In cycle, A upward wave (5) ends with a terminal impulse of 1.36194. Hope thrust reveres back to at least
1.34687 to 1.34295/1.34033 and completely retracement at 1.31839 referring to terminal Impulse effect
or around 38.2% to 50% of the former big cycle in 4h time frame chart.
1h time frame wave (a) assumes finished, wave (b) is unconfirmed but the price...
This is the chart I drew on 12-11-2020 and as shown with perfect technical research the stock yesterday touched the resistance line and there is huge selling pressure at Rs 79 and today it raised but with more pressure, a red candle is formed.
Sun Pharma
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DOUBLE TOP __1 day chart pattern
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APRIL 27 tested a new high (504.80) and failed to break it. Almost after month+ it has risen above to its Previous HIGH.
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I would go SHORT around " IF THERE IS ANY RESISTANCE AROUND IT'S PERVIOUS HIGH OR IF THERE IS A SIGN OF A NEGATIVE CANDLE
( HANGING MAN ) IN THE NEXT FEW DAYS"
TARGET__ 475- 450
STOP...
