Trendline broken with decent volumes, initiate long
RSI trendline also broken
RSI at levels of 60
Hold for targets of 711, 737
Good support at levels of 660
Basic observation:
a. Between 2020 and now Sun Pharma has grown 131%. The last time it showed such considerable growth was between 2013 and 2014 where it grew by 166%.
b. Post having a falling trendline for 59 months (-74.15%) it has been within a rising channel for over 16 months (108%).
c. RSI and KST currently showing positive signs
d. Prices have been...
NSE:SUNPHARMA
SUNPHARMA LOOKS BULLISH.
Recent pattern is bullish flag and pole. And If you look it on chart it has created inverse head and shoulder patter from 27th May to till now and also FRIDAY it crossed above the neckline and tested the neckline and closed at the neckline.
If on Monday it gets proper buying volume then this neckline will act as good...
Technically Stock has habit creating Trending Fan pattern same can be seen in Monthly (Black Lines), Weekly (Red Lines) as well as Daily Charts (Green Lines).
This Time Stock gave Bullish Trending Fan Breakout around 470 levels, mostly due to Exit polls of TN election where DMK is expected to win.
On weekly Chart a Small Resistance is seen around 558, crossing...
I am a novice and following this chart using Fisher Transform, Volume and Trendline.
Fisher Transform is much more effective than other indicators like MACD etc. You can see it triggered short at the highest point as it crossed the trigger line, and indicated a 'Close Long' or 'Enter Short' You can use Intraday Fibo also for more confirmation. Fisher Transform...
The trend reversal pattern double bottom formed in 1 hour candle, expecting the stock will resemble to the major trend.
Buy above 493 target 1 - 497 ; target 2 - 499 target 3 - 502
stop loss - 487.38
This is for educational purpose only before investing please do your own research.
