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NeeteshJain
Feb 10, 2017 4:47 AM

SUNPHARMA BUY SETUP (RISING THREE METHOD PATTERN) Long

SUN PHARMACEUTICAL INDUSTRIESBSE

Description

It is been observed on the daily chart that the price action firstly breaks above the downward trend line on daily chart indicating a strong bullish move. Then, it retraced back to the downward trend line with three candles hiding behind the big green candle. This is also indicative of the possible "Rising Three Method" formation. Overall, it is indicating a good buy setup at current levels.

Target1: 680

Target2: 700

Stoploss: 640

Trade shall be active once the price action goes above 662 levels.

Regards

Trade active

Trade active

Comments
rajesh2467
Thanks for sharing.
Rushabh95
can i enter this trade
NeeteshJain
@Rushabh95, You can enter the trade once the price action breaks and closes above 690 levels. I was expecting a Rising Three Method but it did not happen. It is still trending down. Regards
AvinashDesai
Hopefully it starts it's upward journey from tomorrow
rakefree
@AvinashDesai,

Daily-


Weekly-
NeeteshJain
@SpadeFX, I appreciate your sharing and analysis. Regards
NeeteshJain
@AvinashDesai, It will start its up journey once it breaks and closes above 690 levels. Regards
VikasChhatwal
Since this has fallen below the stop loss today, should we exit?
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