Sanofi India is near completion of its Harmonic pattern and will turn bullish.
Sanofi India is nearing its bottom and seems will bottom out close to 4796 by end of May.
Accumulation can be started from 5000
Stop Loss is 4700 on monthly closing basis
Target 1 - 7424
Target 2 - 8989
Target 3 - 9285
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...
Sanofi on Monthly chart is on verge on forming a death cross (20-50 EMA negative crossover)
Cautious on this stock to take entry until there is some confirmation on change in trend.
In case the death cross occurs in a month or two then the below support levels are marked.
Please note: The formation is not yet completed and if there is reversal well and good,...
