the view is formed by studying various parameteres and thus i am holding a strong bullish view in the counter which may take it to the levels of even LT H in oming couple of days !
SunPharma has given a strong breakout from a flag pattern with high volume.
However buying was to be done after confirmation, being a day late and seeing a doji on daily charts, I'll wait to see the price action for Monday and take a call, either buy on retracement or if setup looks bullish on lower time frame than buy. Upside could be 700+ however +3 SD can pose...
SUNPHARMA has traded on NSE with 5 times its average volumes and has crossed its recent resistance. Buy SUNPHARMA at 595 with Stop-loss at 575 and Target at 620
1) CNX Pharma on verge of breaking 1 year trendline
2) Making higher highs andhigher lows since jun 6
3) currency depreciation and new launches in usa market will give support to bottomline
Resisting near 590-615 levels. ( Three peaks have been formed at this level)
Trading below downsloping trendline
Break above 615 , can only bring upward rally in the stock.
if resisted can retrace previous swing or may test previous swing low, keep an eye on price action.
DIVISLAB RESULT ON AUG 4
4HOUR AND WEEKLY CLEAR TRIPLE TOP.,,,
SELL CMP 1155. SL 1180(CLOSING BASIS)
TARGET 1040.990.928,,
OR
BUY 1200 CE 37 -800 QTY.----
BUY 1100 PE 27 - 1600 QTY.
WAIT TILL AUG 10
