One may buy SunPharma with a SL of 420 and target of 470-475. A buy on dip is recommended. A converging MACD and a confirmation on RSI on the buy side indicates Sunpharma might move to fill the gap and move towards its 20 DSMA.
NIFTY HOURLY CHART TRADE
CAUTION TRADE WITH STRICT STOPLOSS
NIFTY HAD BROKEN STEEP TRENDLINE
NOW HAS RETRACED TO 61.8% ON HOURLY CHART
IF THE TREND IS TRUE IT MUST REVERSE
FROM 10568-70 OR 10550 LEVELS(ADJUSTED FOR VOLATILITY
TRADE WITH A VIEW OF 10750 IN MIND AND WITH A 30 TO 40
POINTS ON THE INDEX
SMART INVESTORS WILL ACCUMULATE
AT THESE LEVELS STOCK HAS RETRACED
MORE THAN 61.8% AS A TRADER TRADE FOR
SHORT COVERING AS A POSITIONAL TRADE ACCUMULATE AT THIS LEVELS
BUY@107(WAIT FOR IT
STOCK HAS FORMED A STRONG...
NIFTY seems to be following in Channel as shown in Chart, Similarly if you see on RSI similar to trading range there is expanding triangle and recent fall was with higher velocity which brought RSI to over sold zone. So I believe there will be this final up trend rally in NIFTY before we can witness a healthy correction. This Rally should also be as swift as the...