SUNPHARMA: Analysis
Keep an eye on SUNPHARMA it is on the verge of its breakout from a triangular pattern. There is a concert resistance at 526.90 levels. SUNPHARMA has retested these levels multiple times now and there is a good possibility that it is going to break these levels this time.
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Reason to Buy:
1) Multiple retesting or concrete resistance levels.
2) Trading over 200 EMA line
3) Steep trendline below each candle.
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Calculate Your RR ratio and then trade. Stoploss must below the immediate previous swing. Wait for it to cross, best buy above 530.00 levels.
.
Reason to Buy:
1) Multiple retesting or concrete resistance levels.
2) Trading over 200 EMA line
3) Steep trendline below each candle.
.
Calculate Your RR ratio and then trade. Stoploss must below the immediate previous swing. Wait for it to cross, best buy above 530.00 levels.
Note
No breakout yet still in a parallel channel.Note
Few points away from SL.Trade closed: stop reached
SL hit trade closed Forgot to update
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.