Sun Pharma: Into the Resistance -- The Shorting ProspectsNotes on the chart.
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Bravetotrade
ShortSUNPHARMA
Short
SunPharma : Fibs & Trendlines in Sync !We had very good fib support, breakout of trendline resistance which is happening right now, so expecting sun pharma to reach around 555's & 560's as final target. If you want to squeeze out every single point trial very aggressively after 560 for 565's zone.
Long
CNXPHARMA Downtrend resumption- The index level retraced to the 20 day SMA
- Even though there is a little further to go for 61.8 % Fib level, hanging man pattern is clearly visible on the chart
- Looks like a reasonable risk/reward play on the short side considering above two factors
- Sunpharma, Auropharma, Biocon, Wockpharma etc seem like a good bet
Short
28 % fibbonacci support is broken, Next support is at 640Sunpharma is on downtrend. 28 % support is broken, The next support for the stock is at 50 %, i.e. 640 Rs.
Short
Long
Sun Pharmaceuticals - Conditional PositionStrong Inverted Hammer on daily chart. Descending triangle. May break on either side. Position to be taken based on where to it breaks.
Weekly chart shows clear indications of a downfall.
SUNPHARMA - IMPORTANT LEVEL The stock is at crucial level.
See the yellow lines , which show what happened when the price came to this level previously.
The last time it happened, it failed to hold up.
But then it formed a base and now,
If buying continues to happen, very good chances of,
staying above the white line and futher, also above the rectangle.
Take positions accordingly.
Regards.
Long
Sun Pharma to see further upside up to 700Sun Pharma has shown some buying on weekend and seems bulls have stepped in. we may see further upside up to 697-700 in coming week.
Long
Bearish Engulfing - SunFor almost three months Sun Pharma has remained range bound between 620 and 680 levels. The candle stick depicts a bearish engulfing pattern. This is confirmed by the gap up opening the day before and the length of the candle today. I am mildly bearish on the stock. I would recommend selling ITM call option (680 levels) and buying OTM call option (740 levels). My stop loss would be 700.
Short
long term buy chance on multi year bollinger chart it looks, Sunpharma is bottomed out and heading for highs for long term towards 800+.
Long
SUNPHARMA - RESISTANCE BREAKOUTIt is been observed that the price action breaks above the resistance levels, now it shall move to 700 levels.
Target 700
SL 680
Long
SUNPHARMA FLAG BREAKOUT (TREND CONTINUATION TRADE)It is been observed that price action breaks out from the downward consolidation flag formation and now it shall further move up to resistance levels and once it breaks above the resistance level then it shall further continue and follow the prevailing uptrend.
Target 1: 685
Target 2: 700
Stoploss: 670
Long
Channel breakout, Doji formationSun pharma moved out from its channel and now testing support. A perfect doji formation with decrease in selling volume . Based on Monday movement we can confirm the trend.
SUNPHARMA BUY SETUP (RISING THREE METHOD PATTERN)It is been observed on the daily chart that the price action firstly breaks above the downward trend line on daily chart indicating a strong bullish move. Then, it retraced back to the downward trend line with three candles hiding behind the big green candle. This is also indicative of the possible "Rising Three Method" formation. Overall, it is indicating a good buy setup at current levels.
Target1: 680
Target2: 700
Stoploss: 640
Trade shall be active once the price action goes above 662 levels.
Regards
Long
Buy Sun Pharma on dip Sun Pharma has made channel breakout and may set the trend reversal, traders may enter long on slight dip around 653-655, it may again retest the support which seems to be good buying zone and very small SL.
Long
Sun Pharma - Decisive levelSun Pharma is now at a multi-year horizontal - SR level .
You can see the levels go back upto 2013 which make them important.
Fellow traders are suggested to trade as they decipher this chart in their own way .
Cheers !!
it can be on breakout side?as per feb retrenchment it should close above 652 for fresh upside breakout. let see where it can go with current market conditions.
Long
Ascending Triangle breakout and confirmation Intraday!There is an Ascending Triangle breakout after that a retest from above confirming that buyers are there at this level so it may continue it's move up. One can buy at this level with Stop Loss of 628. Good Luck
Long
Long Sun Pharma approaching channel resistanceSun Pharma has been trading in down trend in a channel respecting support and resistance it has already touched the channel support and approaching the channel resistance around 650 in near term, traders may enter long in sun pharma slightly lower price as it may again retest 600 the support before going up.
Long
SUNPHARMA LOOKS BULLISH ON DAILY CHARTSImpulse moves during downtrend completed on daily charts. Now ready for counter-trend corrective move.
Target 1: 670
Target 2: 725
Stoploss: 601
Long
ABCD Diamond formation on Sun Pharma - LONGABCD Diamond formation on Sun Pharma and RSI oversold at 1 hr.
Trade:
Buy above - 635
Target 1 - 643
Target 2 - 650
Stop Loss - 625
Reward Points - 15
Risk Points - 10
Long
Sun Pharma approaching channel resistance target 705Sun Pharma has been trading in down trend and trading in channel except some false breakouts due to market uncertainty. It has been approaching the channel resistance with a target of somewhere between 705-710. traders may go long in sun pharma at CMP for target 705 in near term.
Long
Cup formation on Sunpharma - LongCup formation on Sunpharma at 1hr chart.
Trade:
Buy above - 677
Target - 685
Stop Loss - 672
Reward Points - 8
Risk Points - 5
Long