Sun Pharma may have completed what looks like wave C of an irregular flat correction on March 22nd. The high of 479.70 made on March 22nd is very close to the 1.272 extended level of 480.10 which is typical for an irregular flat correction.
The wave c looks like a diagonal triangle. If so we should see swift selling in this counter that may reach the Jan lows of...
It is been observed that the price action is trending up in a channel on Daily chart. Now, on 30 Mins chart, it formed a wedge pattern or diagonal triangle and breaks out from that and moving further down. As per the Fibonacci estimation, I would target it to 38.2 % Fibonacci.
The price action is trading a diagonal triangle and it is urge of a breakout on either side of it. Today's close shall determine the furture price action in this. Keeping a close eye on it as the breakout on either side shall reward in good returns.