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SUNPHARMA

Sun Pharma- Broke Major Resistance | Positional IdeaHighlights: 1. Broke out of a major resistance 2. High volume on Breakout 3. Bullish market structure You are always advised to use an appropriate Risk-Reward ratio as per your strategy. About the Company: Sun Pharmaceutical Inds. Ltd is an international specialty pharma company. The company also makes active pharmaceutical ingredients. In branded markets, their products are prescribed in chronic therapy areas like cardiology, psychiatry, neurology, gastroenterology, diabetology, and respiratory. The company is engaged in the manufacturing of products in the following therapy areas: CNS disorders, Cardiology, Diabetes, and Metabolic disorders, Gastroenterology, Ophthalmology, Oncology, Pain, Allergy, Asthma, and Inflammation, and Gynecological. Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
NSE:SUNPHARMA
by johntradingwick
1
Sun Pharma Adv - Broke Major Resistance | Positional IdeaHighlights: 1. Broke out of a major resistance 2. Volume expansion 3. Bullish market structure You are always advised to use an appropriate Risk-Reward ratio as per your strategy. About the Company: Sun Pharma Advanced Research Company Ltd is engaged in pharmaceutical research and development.The product range of the company includes: NCE Projects- Under this the company is currently working in therapeutic areas namely anti-allergy, soft steroid, anticonvulsant and muscle relaxant.NDDS Projects- Under this the company is working on delivery system based platforms such as biodegradable implant, nanoemulsion, dry powder inhalation technology, wrap matrix controlled release systems and gastro retentive system for controlled release. The company is focused on innovating drug delivery technologies requires for treatment of cancers and psychiatric ailments. Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
NSE:SPARC
by johntradingwick
Weak Global Cues Force Nifty To End In RedNIFTY 50 EOD ANALYSIS -30-07-21 IN SUMMARY Open / High / Low / Close 15800.6 / 15862.8 / 15744.85 / 15763.05 Trading Range Low to High: 118 points Likely Max Realistic Opportunity @ 50%: 59 points India VIX: 12.8 / -1.16% FII DII activities: -932 Crores CHART BASED CONCLUSIONS The opening candle on the 5 minutes chart was a shocker - almost 80 points and the moves were violent as there was a spike in prices of HDFC twins and then they sank and then HDFC spiked yet again. In the last half an hour, the opening was retested as the global cues were negative so we had to close in the Red to fall in line with the leaders. After the first 15 minutes of action-packed drama, there was range-bound action and even though the European markets were in good red, suddenly, there was a breakout of 50+ points on Nifty which got sold in to and proved to be a fake-out. If the candles of yesterday and today are combined, there would be little difference in the Nifty level as more or less they are identical. Except that today was a HH and HL day. TOP 3 LOSERS HINDALCO - Looks like the traders are unsure if the scrip would sustain around these levels as profit booking was in action albeit with low volume. So we have to see how it trades in the next few sessions. BAJAJ FINANCE - From the ATH to a big red candle - a dark cloud cover or bearish engulfing. Gap-filling for open gaps has been accomplished and it is closer to 20 DMA so wait and watch for now. SBI LIFE - Yesterday’s candle had given an indication that profit booking is likely and that is what has happened. Looks like a steady rise is now getting encashed as the volumes are low. TOP 3 GAINERS SUN PHARMA - A very unusual candidate on this chart and what a roaring rise of 10% ahead of its results breaking out of a multi-year resistance. The volumes are also very high so now the action of 2-8-21 needs to be seen if it can test 800 in the coming week. TECHM - A strong gap-up has set the scrip hanging in the air at ATH with strong volumes. The scrip could not close exactly at the ATH level, but it's close is still at ATH. CIPLA - A strong bounce from the base camp but the volumes are not great as it is still below the 50 DMA which is at some distance away. POSITIVES HDFC twins and KOTAK BANK made it possible for Nifty to get back past 15835 levels. The extent of negativity in European markets was severe at its open and yet Nifty rose so it is a good sign that the undercurrent is positive. NEGATIVES SBIN, AXISBANK, TCS, RELIANCE, ICICI BANK, ITC and INFOSYS ende in red. This was the major reason for the Nifty sell-off in the last hour or so. Nifty is unable to decide which way to go as the under-current seems to be positive, but some of the heavyweights are dragging it down under global cues as the market context. One more day and one failure to sustain above 15800 levels. FIIs have sold a massive 3800+ Crores worth of shares. The selling spree is nonstop and DIIs are unable to match or overtake them by buying in large quantities. TRADING RANGE FOR 02-08-21 Nifty support, for now, is at 15700-750. And resistances every few points. No point mentioning those again and again. BANKNIFTY support range 34200-400 and resistance 34800-35000. Unless there is a break-out or down, the range-bound behavior is likely to continue. INSIGHT / OBSERVATIONS The Open price of Nifty on 29-7 was where it ended today - leave aside a point or two here and there. This has been happening regularly and those who thought like Pros would have made good gains today. Even though we do not always rise when Global cues are positive, we end up following Global cues when they are negative and that is what was seen today. The fall from the high in the last 90 minutes seems to have occurred only for that purpose and we ended the day just below the earlier close by 15 points. Such moves catch the retail traders on the wrong side as genuine SLs would get hunted and the FIIs / DIIs get a bargain buy/sell candidates. The trading range for the indices has not changed despite one eventful trading day. So it is better to be stock-specific than Index specific. With the reduced lot size in Nifty, making money has become hard. One lot of 50 is too small and 2 lots become a bit high from a risk management viewpoint. FIIs relentless selling and DIIs inability to match it with buying is causing Nifty to find it hard to move up. Thank you, and Happy Money Making! Umesh 30-07-2021. P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title as well as its contents can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
4
SUNPHARMA ready for breakoutBasic 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 consolidating for for 56 days. e. The price has currently surpassed the 46 days resistance f. In daily time frame, 10 and 20 DMA have cut above 50 DMA and positive movement has begun. DMA's in order when used in Monthly and Weekly time frame too. g. Currently Trading at 703.40 Entry @ 703.80 Target @709.45 Stoploss @ 701.94 (-1.86) Risk to Reward Ratio @ 3.03
NSE:SUNPHARMALong
by daivick
Sun Pharma ready to breakoutBasic 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 consolidating for for 56 days. e. The price has currently surpassed the 46 days resistance f. In daily time frame, 10 and 20 DMA have cut above 50 DMA and positive movement has begun. DMA's in order when used in Monthly and Weekly time frame too. g. Currently Trading at 703.40 Entry @ 703.80 Target @709.45 Stoploss @ 701.94 (-1.86) Risk to Reward Ratio @ 3.03
NSE:SUNPHARMALong
by daivick
SUN PHARMA | TRADE SETUP 26-07-2021NSE:SUNPHARMA It have broken the trendline with good volume and also our level of 689 and hit our target 1 placed at 695. It closed at 694. Trade Setup for 26-07-2021. 1) If it goes down till level of 691 let it go don't try to short it. If it gets support from 691 and trade above it then it will be easy to go long and all the targets are mentioned on the chart. 2) If it fails to hold the level of 691 then next support is at 689. If it gets support from 689 and trade above it then it will be easy to go long in trade. All the targets are mentioned on the Chart. 3) At this moment there is no short/sell trade opportunity in SUNPHARMA. It will only give opportunity for sell/short trade below 680 and then the fall will be till 670. 4) Don't chase if it open with gap up. Let it cool down for initial 15-20 minutes and judge the price action and only trade on levels. Have a good weekend. Comment if my ideas are helping you to understand price action and levels. Do comment if you have any doubt.
NSE:SUNPHARMALong
by Trading_hawk
SUN PHARMA | Target & Levels | 20-07-2021NSE:SUNPHARMA It has closed above the critical level 689. 689 is level from Fibonacci. Strategies for Tomorrow | 20-07-2021. 1) If it Gap up between 690-692 then wait till if it take support from 689 range. And if it makes Green candle in 15min time frame then there will be the perfect entry to Go long. Targets are mentioned on the chart. 2) If it Gap up between 690-692 and then goes up and faces resistance in 695 range then wait until it comes to 689 range and let it take support from there. And from 289 range if it makes Green candle in 15min time frame then there will be the perfect entry to Go long. Targets are mentioned on the chart. 3) If it gaps down in 685-687 range then wait till it gives breakout of 689 range. Then there will be the perfect entry to Go long. Targets are mentioned on the chart. 4) I would prefer not to take short/sell side trade in SUNPHARMA. If any doubts/suggestions, comment below.
NSE:SUNPHARMALong
by Trading_hawk