AbhishekHSinghCMT
Short

Sunpharma - It is all messy with 732 & 820 Resistance

NSE:SUNPHARMA   SUN PHARMACEUTICAL
470 13 19
Since 1200 highs -It is all messy in the Sunpharma             & seems that the pain will continue till the time it takes out 732 -key level & 820 -Critical level convincingly on the upside.

Only above 732 & later 820 shall give some relief to the stock in upcoming days else can trouble the traders to the core.

Short Term Chart (30 mins)


Trading Strategy

Short Term Strategy - One should take long positions either above 710 or sell below 680 as a strategy in coming sessions Below 680 we will likely see target zone 620-625.

Long Term Strategy - Tripple correction shall take it deep again till the time 732 & later 820 is taken out convincingly to give us confidence that the correction is done & we shall look for upside projections in that case.
Moving above 732 should be the early signs that this stock leave its pain behind & look towards new sunshine             up in the sky.




Trade active: 12"09 Hrs 7thApril2017

Last Price@673

Day Low@666

We will book profits here & look for selling if it goes below 670 again later.

Trade active: 11:45 Hrs 8th April2017

Last Price@665

It gave us again intraday selling below 670 -made day low@662 to close at 665.
Trade closed manually: 18th April2017

Closed.
Comment: 18:19 Hrs 15th Aug2017

Call was closed - It is just a comment.

Recent Low@ 432 - has completed Z-Wave which we have been looking since sunpharma did not move above 732 - key level for upside projections.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
In a W-X-Y formation, Could Y wave be a 5-wave structure ?
Reply
@harishkumarhs, Yes, It is complex correction that is why we name it as W-X-Y . So, It can be Impulse - Corrective -Impulse or Impulse -corrective- corrective or it can be corrective -corrective -impulse - hence we call this as complex correction & In school days - we use to call this as permutation & combination.
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harishkumarhs AbhishekHSinghCMT
@AbhishekHSinghCMT, Thank You. So it is same complex correction with W-X-Y-Z as well I suppose.
Reply
@harishkumarhs, Yes, Complex correction is all permutation & combination.
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thanks for sun pharma analysis
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@jacktheGREAT, Have a nice weekend Jack!
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I was looking for Pharma stocks for investment purpose. Thanks now I will wait for more time or better entry.
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@nirav5, Neerav- Pharma stocks cracked this week.
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nirav5 AbhishekHSinghCMT
@AbhishekHSinghCMT, Yes nicely spotted and saved :-). Kindly let us know when the risk reward is favorable for the investment prospects.
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Great Sir :D
Rsi showing positive divergence on 30 minutes chart.
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