Bat
SUNPHARMA - Bullish Bat - Support of Channel - Long Possible reversal zone (PRZ) - @ 380
Sunpharma has been on a down run since Jan end. Today it got retraced from channel bottom.
As the whole pharma sector is going down, tomorrow it may go down a little further.
Bullish Bat Harmonic Pattern is seen developing near the channel bottom and possible reversal from 380 can happen
The Target for positional trades would be 417 and ++
Intraday Target would be 395 . book half here and leave the rest to square off
Trade Plan
Scenario 1 - In the initial session - Script directly starts falling and touches 380 or falls more .. wait till it starts reversing and crosses 380. Buy at 381
Scenario 2 - If Script doesn't fall till 380 and starts retracing from 384 only .. wait till it crosses 389 . buy at 389
Scenario 3 - For Risky traders - buy on dips till 380
Happy Trading
MSK
#CANARA BANK 1D NSE (SHORT)1) Bullish Bat Pattern ( Harmonic Pattern )
2) Stock trading near resistance (224-216)
3) CMP @ 224
4) Pending "C" to "D" move (224-170)
5) Stock trading near upward trend line (after breaking this trend line stock move to "D" point)
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6) 1st Target - 175-170 (support area)
8) SL - 235 (for Short Trade)
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Note : This study for educational purpose only.
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Twitter - @bagade_arvind
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