Looks like will take support around 465/468 area. Any dip towards that level can be used to buy with a tgt of 500.
500 is a stiff resistance, close above that can take stock to 550 levels.
Buy around 465-468 levels with SL of 443 (closing basis). Tgt: 500/550 and above.
SUNTV is at crucial position and either it has to break or make.
May take support of 200 MA and support trendline and bounce back. Otherwise, will chase for the gap of 600.
Price action is trading in declining channel... The price has reached and reverted sharply from lower band of declining channel....
Sun pharma is India's largest pharma company and is down almost 200% from its life time high....
SO go and get real gold at very cheap price... Would you?
We had very good fib support, breakout of trendline resistance which is happening right now, so expecting sun pharma to reach around 555's & 560's as final target. If you want to squeeze out every single point trial very aggressively after 560 for 565's zone.
Sun pharam weekly chart show stock has resisted to long time falling trend line as well as the previous multiple lows support zone. Currently we find sector or not performing well recently the stock stock trading below the fib cluste
Symmetric Triangle on SUN TV and it may break either side but indicators like RSI, MACD & Stochastic are showing bullish sign. Let see, where its going to break ?
Levels for Long:
Level 1 - 505
Level 2 - 516
Level 3 - 526
Level 4 - 536
Levels for Short:
Level 1 - 473
Level 2 - 465
Level 3 - 456
Level 4 - 446
"Happy Trading"
