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Sanofibuy

Sanofi Sideways breakout Buy above 6240 Sanofi has recently taken support from a monthly demand zone and broken a weekly demand zone on the daily timeframe with huge volume. The stock was in a downtrend from August 2021 until October 2022, which was phase 4 markdown. Since October 2022, it has been trading sideways, which can be considered accumulation phase 1. Today, the sideways breakout has happened, which can be phase 2, meaning mark up. Plan to buy above today's high of 6240 with a buy entry planned for tomorrow if the high is broken. The stop loss should be around 6070, and the target should be below the weekly supply zone at around 6532, making the risk to reward ratio approximately 1:1.5. After reaching the target, trail your stop loss and targets upside for more profits. I am not a SEBI registered individual; my analysis is only for educational purposes. If you find my analysis helpful, I'd appreciate it if you could like it and follow me on TradingView for more analysis like this.
NSE:SANOFILong
by AfnanTAjuddin
Sanofi - Reversal in negative trendSanofi was correcting from 11/08 from 9275 and it went down to the level of 7435 on 20/12. Since then, it is consolidating in a healthy way. It now seems to be a reversal candidate and uptrend may start soon and strongly. Chart Pattern: 1. Double Bottom - It created double bottom with second bottom above the initial - It created double bottom with positive RSI divergence 2. W Pattern: If it rounds upside successfully from here, W pattern seems to be in formation - As per this pattern first target would be top of the trough, i.e., 7930 and then 8350 to the top of W Retracement: According to Down side retracement, first target can be 8138 (38.2%), then on 8355(50%) and final strong 3rd resistance would be at 8572(61.8%) SL: 7400
NSE:SANOFILong
by TechnoFunda_Investor