raghavendrakumart

Sunpharma - Struggle with trendlines and channel

Short
NSE:SUNPHARMA   SUN PHARMACEUTICAL
221 views
2
A sharp fall and then a corrective channeled rise. Staying below 600 next leg of the downtrend should start taking the price to 490 and lower.
Trade active: A 50 point trade and counting. 3rd of some degree is going on.
Trade active: A 100 point trade and counting. Price test 490 ( actual low so far = 492 ). Likely in its 5th wave of the fall...of the 2+ years correction

Comments

Why the level of 600 is important and the timeline for the downtrend target of 490?
Reply
raghavendrakumart drchandramohankk
@drchandramohankk,

I considered the rise to 590+ as a 4th of larger degree and hence looked for a low below 490 for the eventual 5th.
600 is close to 5 month close ema.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out