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SUNPHARMA

detailed price action study on sun pharmaThis is a daily chart of sun pharma As you can see on daily chart , sun pharma is on a down trend in Daily chart which is obvious A successful daily close above 485 may change the trend on daily chart , till that time , it is still on a downtrend Here the rectangular box is called the fair value area & the price usually gets attracted to this rectangle and the price rotates between the high & low of this rectangle Any break of rectangle - we call it excess or tail based on the pattern Here if we are going to take a trade - the trade will be Buy @ current levels Sl - 368 Target 1 - 425 Target 2 - 450
NSE:SUNPHARMAEducation
by joel-vg
2
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
NSE:SUNPHARMAEducation
by MAYA_MUMBAI
21
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.
NSE:SUNPHARMAShort
by AbhijitRath