Sun Pharma is one of the prominent players in the pharma industry. Reduced debt significantly with more than 50% promoter holding.Moving through an upward parallel channel for 3 years. Expecting the levels near to 1300 within 5 months .
BUY - ANUH PHARMA LTD
CMP - Rs. 95
Target - 1: Rs. 120
Target - 2: Rs. 160
Target - 3: Rs. 195
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Technicals - Falling Wedge BO
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This is just a view by an expert analyst, please invest at your own risk.
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Sunpharma has given a BREAKOUT on MONTHLY BASIS and it is Multi Year high Breakout . Also Time Cycle for this is BULLISH
Even today it has not fallen a lot - Showing Bullishness and Retesting its Breakout Level
Here are the key things to see in this setup - and why its picture perfect
Volatility compression before launch from 1000 - classic Minervini style VCP
Higher volumes on the push off from 1000
Momentum on daily turning positive
Earning coming up- obviously people in the know are in
Relentless buying above 1020 - absolutely no pull backs
Go long with...
On a daily chart time frame , important resistance zone around 1069 (yellow line marked on chart) has been broken with good volume (higher than average)
On 2 hrly chart a rectangle shaped consolidation has been broken, vol during the consolidation was low , and is high on and after breakout
Rise is seen in ATR on and after breakout, and had an overall rising ATR...
BUY - SUN PHARMACEUTICAL
CMP - Rs. 969
Target - 1: Rs. 1330
Target - 2: Rs. 1580
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Technicals - Cup and Handle BO
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This is just a view by an expert analyst, please invest at your own risk.
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SUNPHARMA -- Quick up move from 925 to 1050+ levels in 2 weeks.
Based on Harmonic pattern - we can see Bearish Cypher in hourly time frame.
And even though the Market is in a strong uptrend yesterday - we see a fall from 1053 to 1032.
If the trend continues after slight consolidation at 1026- 1018 levels, we should be testing 972 soon.
1024 will be critical...
On the daily timeframe chart of Sun Pharmaceutical, the price is approaching a resistance zone that has been tested multiple times. As this resistance has been tested multiple times, it may be considered a weak resistance. If the price gives a strong breakout above this resistance zone, it could present a great opportunity to take a swing trade.
For entry, we can...
Cipla is near crucial support zone on daily chart .
Entry:
We can go long on close of strong bullish candle near support zone .
Target:
We can keep the target 1 & target 2 near the next résistance zones as marked on chart.
Stoploss:
We can keep stoploss below the support zone .
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#sunpharma astro level 1019..
coming back near supply zone of 1019-1030..
bulls need to be cautious here..
note : above info is for educational purpose
