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.
Marked swing Points, trend lines and Fibonacci level can be used for trading along with some momentum indicators.
Try to lookout for confluence of these parameters, don't trade solely using any one of these parameters.
P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal.
Invest your capital at your own risk.
Some companies like SunPharma are like silent warriors. Their actions speak louder than what they mutter under their breath. Please check the chart and correct me if mistaken. Thanks.
As mentioned in my previous sunpharma idea, we were looking to long sunpharma but we waited for proper buy setup, my strategy is always to buy/sell at dip/rise making R:R favorable. Analysis mentioned above.
Thank you.
Stock has been under performing for many years.
In yesterday session a break down was seen from ascending triangle pattern and today it has opened gap down and fallen much with a huge volume.
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