Sun Pharma has made multiple bottoms in the last few weeks, for a long term it shows good bounce back if it follows in the next few months.
Entry above the trend line.
SL should be below the support.
Target - 100 points from trend line.
Sunpharma Looks weak after its quarterly results
Have provided two entry points
High and Low of Fridays candle - You can enter short trade if it touches high of friday candle with stop loss of 5 and if its gaps down and touches friday's low - still you can short with stop loss as fridays close
The target is open - so keep booking profits and keep trailing...
Sun Pharma - the gap between 50 n 200 EMAs is less than three rupees, 0.7%, we know how significant is this.
We can also see a trendline connection earlier tops, which may see a breakout as soon as on Monday (Jan 14th).
Buying above 448, with a stop loss of 436, for immediate targets of 464.
Traders using derivative tools, may use vertical bull spread, once...
weekly chart is looking like an inverse head and shoulder pattern , But look carefully the momentum of such breakout is halted by market. which is not a good sign for this technical pattern . 70% of cases market invalidated the pattern and continue downward momentum. I will monitor this view only for educational purpose. Sunpharma may go below 350/- again!
SUNPHARMA: The stock bounced off from a very strong support level. The momentum is supporting buyers. The RSI is well into the bullish range along with MACD which seems to be comfortable in bullish area too. A minor resistance is hindering the move at 430 above which a move past 500 levels are expected.
Pharma counters have been under the scanner and this counter after its strong upward run since August 2019 to challenge its former highs formed in March 2019 around 1770 before it succumbed to the selling pressure that emerged at those zones. The sharp decline from these levels are now attracting steady selling interest that has dragged the prices lower. With...
Looks beautifully bearish in weekly making lower highs. It was at an important weekly level in last two weeks. The red candle rejected the level as well as 50 EMA, giving me a negative bias.
On 8th, Trendline was mildly broken with a big engulfing candle and today, it was clearly broken, though with a green 50EMA rejection...
Key Levels for SUNPHARMA are : t.me - JOIN TELEGRAM CHANNEL
Risky Buy Above~424
Final Resistance~ 440
First Target~ 418.10
Final Support~ 411.40
Please trade with caution and consult your financial adviser before...