Sunpharma - It is all messy with 732 & 820 Resistance

490 13
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

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
| LinkedIn
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 ?
@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.
harishkumarhs AbhishekHSinghCMT
@AbhishekHSinghCMT, Thank You. So it is same complex correction with W-X-Y-Z as well I suppose.
@harishkumarhs, Yes, Complex correction is all permutation & combination.
thanks for sun pharma analysis
@jacktheGREAT, Have a nice weekend Jack!
I was looking for Pharma stocks for investment purpose. Thanks now I will wait for more time or better entry.
@nirav5, Neerav- Pharma stocks cracked this week.
nirav5 AbhishekHSinghCMT
@AbhishekHSinghCMT, Yes nicely spotted and saved :-). Kindly let us know when the risk reward is favorable for the investment prospects.
Great Sir :D
Rsi showing positive divergence on 30 minutes chart.
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out