SUNPHARMA
supports and resistance for lupin lupin positional looks good on charts for long
levels mentioned !!!
2 INDICATORS I LIKE & HOW I USE ITIndicators can help us in trading decisions when used correctly
The problem with most indicators is New traders think that indicators are magic indicators
In Todays tutorial , i shall tell how to use the indicator and why i had purchased Sunpharma @ 107 as told in my previous tutorial (link below)
Now coming to my first indicator
1) rsi - rsi in general if above 70 is over bought and below 30 is over-sold . But only using this rule will not make it profiatble
you have to make other conditions which make the buy set up profitable. what are those conditions
other conditions which made it profitable are
1) you can see that it is at a support on daily chart as seen by the blue horizontal line
2) Hidden bullish divergence
What is my 2nd Indicator ?
1) Average true range - you have to use ATR for the stop loss .
ATR is commonly used as a trailing stop loss. At the time of the trade, look at the current ATR reading.
Place a stop loss at a multiple of the ATR.
Two is common multiple, meaning you place a stop loss at 2 x ATR below the entry price if buying.
here in the chart atr is 4 so 2*4 is 8 , so we keep the stop loss @ 400 and then take the buy entry @ 408
Now the stock has moved towards 417 and the atr is @ 3.5 , so the stop loss is moved to 410 (Trailing stop loss)
However if the stock moved towards 424 , its good to exit the stock , because that is a resistance on a daily chart
I shall follow up on this stock
Hope you understood about the 2 indicators
Please do click the the like button - if you liked this tutorial
POWER OF HIDDEN BULLISH DIVERGENCEHidden divergence can be a good indication of trend continuation.
Hidden bullish divergence takes place when the price is making a higher low . But the oscillator is showing a lower low
In an uptrend hidden divergence happens when price makes a higher low but the oscillator makes a lower low.
I had entered the stock @ 407 by looking @ the hidden Divergence
Stop loss is 400
Targets - 1st target - 418 2nd Target - 425
Long in between 400 to 360 for target of 600 with SL 350Long in between 400 to 360 for target of 600 with SL 350.
On monthly chart it is clear that 350 (200 moving Average monthly) is very strong support, breaking of it means fundamentally wrong with Company.
On Fibbo level @78% is last level for support. It seems that it may take time to reverse. Therefore for long horizon it is good accumulation with SL below 350.
SUNPHARMA looks more down before resuming the bull phaseSUNPHARMA will release its report tomorrow where analysts expect a slight drop in revenue. In charts, it's making an ascending triangle in smaller timeframes but a huge Inverse Cup and Handle pattern which indicates huge downtrend so the price will continue moving down to 340 before making a big jump for a bull run towards 700. Long term Investors may choose to buy this stock as Pharmaceutica products there is always demand and it will continue further and the stock is at a heavy discount.
Short until a trend breakout.
Sunpharma Intraday Bullish Stock | Trade Nivesh Today Sunpharma going on very good it's Intraday bullish stock you can buy above 422 with the stoploss of 407.75
this is very secure trade. get more ping me on whatsapp 9644417489
Sunpharma good to shortInvestors are trying to get out from sunpharma. It will give sure down movement.
Sunpharma | Down Trend Share last 3 days sunpharma break the low point kindly trade careful with this stock
Sun Pharma completing an irregular flat correctionSun Pharma may have completed what looks like wave C of an irregular flat correction on March 22nd. The high of 479.70 made on March 22nd is very close to the 1.272 extended level of 480.10 which is typical for an irregular flat correction.
The wave c looks like a diagonal triangle. If so we should see swift selling in this counter that may reach the Jan lows of around 370 by April end/ First Half of May. A break below 461 would further reinforce this view.
The pattern would stand negated if we cross 500. A tighter stop can be placed around 481 level for immediate short positions.
SUNPHARMA, 30min Value area at bottom.Buying in deeper is not bad.
For equity 422-426 and is as per comfortable and I have given hints for targets.
Intraday scalping call SUNPHARMA.Buy SUNPHARMA 448-449 and stoploss 446 for targets 456-462 and if cross 460 and stay with volume, then 478-500
Sun Pharma Sell TradeSun Pharma in a downtrend. Looks good Sell for intraday. Sell Sun Pharma around 460.50 stop 464 Target Open.
SUN PHARMA DAY TRADE FOR THE REMAINING 1.5 HOUR SESSION Levels mentioned on chart.
(This is only my opinion not financial advice)
Do not carry the position home. This is a day trade only, posting at 1.50pm will be available for viewing at 2.05Pm (Tradingview time)
Do not enter if price goes too far from the rec price. Improvise)
Confused about where to invest at this stage of the cycle?Monthly chart CNXPHARMA
Price action: Blue arrows show higher top and bottom
Line studies: Price moving out of red downtrending channel
Averages: Support at 200 period EMA in June 2018 and Feb 2019
RSI: Bullish divergence + trending up NSE:CNXPHARMA
Comment: One can consider investing in pharma funds/Etfs with a systematic investment strategy for 5 years (Holding period 10 yrs)
By Animesh Vashisht, CFTe
(Disclosure: I hold personal investments in the sector.This is just an opinion not advice.Consult your financial advisor beforemaking investment decisions)
