Sun Pharmaceutical Industries LimitedSUNPHARMA:- Rounding bottom pattern is formed wait for breakout, keep an eye on the stock.
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SUNPHARMA
SUN PHARMA - SWING ANALYSISSUN PHARMA : The market has been bearish for the past few days and it seems that the short-sellers are finally taking control.
The 995-998 level looks like a good entry point for a short position, with a stop loss around 1008. The potential downside target is 957-944
This analysis is only for the educational purpose and should not be considered as a recommendation. There are many different factors to consider when making investment decisions, and this post does not take into account all of those factors. This post is not intended to be investment advice, and you should always consult with a financial advisor before making any investment decisions.
SUN PHARMA POTENTIAL UPSIDE OF 45% SUN PHARMA HAS BROKEN THROUGH ITS MULTI YEAR DOWNTREND AND NOW ITS AT FIRST RESISTANCE LEVEL OF 680 AFTER FORMING A ROUNDING BOTTOM . IF IT CLOSES ABOVE IT ON WEEKLY BASIS THEN A TRADE CAN BE TAKEN. ( A PERSON CAN BE DOUBLE SURE OF THE BREAK OUT IF MONTHLY CLOSING IS ALSO ABOVE THIS LEVEL).
TARGET :1000
CMP : 680
STRICT SL :610
SUN PHARMA MAKING CUP & HANDLE PATTERN IN DAILYIndia doing well comparetively good, than global markets.
SUNPHARMA IS NEARLY 23% Weightage in NIFTY PHARMA.
SUN PHARMA breaks head & sholders & Cup & handle pattern, we can expect bullS will move the stock upside.
& closed BULLISH CANDLE yesterday. CMP 948
Positives for Pharma industry
Globally, Indian pharma companies having nearly above 40% share,
Rupee value depr is good for pharma & IT companies,
In Recent FII data shows morethan 8000 cr invested in healthcare industry,
nearly 90% of analyst given buy recomendation,
nifty pharma last 6 months -4.5 % drop vs nifty 50 -3%
THIS Is Information purpose only.
ALL TIME HIGH SEEKINGSun pharma is looking good on weekly chart by breaking falling resistance trendline and gives a strong close on above that so we can say this is a breakout but one thing I identified there is that a likewise trend of breaking all time high for creating a new all time high so I will feel much secure to take a trade on above previous all time high price which was around 968 and on the basis of previous trend I identified a decent looking target which is potentially achievable for swing trade and that is 1036, Sharing nifty pharma previous published chart too hope this will help to this stock to achieve target.
SUNPHARMA - Ichimoku Bullish Breakout Stock Name - Sun Pharmaceuticals Industries Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 1015
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
# Cloud Trading
# Ichimoku Cloud
# Ichimoku Followers
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SUNPHARMA LEVELS FOR MONDAY - 24-10-2022Important SUNPHARMA Levels ( Support & Resistance ) for Monday Market- 24-10-2022.
Disclaimer:
I am not SEBI Registered Analyst, This Channel Videos are 100% Education Purpose Only, Myself or my Channel Not Responsible for Your Profit/Loss, Please consult Your Financial Advisor before trading/investing on share market.
SUNPHARMA 12.10.2022Stock chart patterns often signal transitions between rising and falling trends. A price pattern is a recognizable configuration of price movement identified using a series of trendlines and/or curves.
When a price pattern signals a change in trend direction, it is known as a reversal pattern; a continuation pattern occurs when the trend continues in its existing direction following a brief pause. There are many patterns used by traders—here is how patterns are made and some of the most popular ones.
Long Sun Pharma at 950long sun pharma at 950 with a stoploss of 935 on weekly closing basis. it has formed a cup and handle pattern on daily charts and looks very bullish . the target for the said scrip on basis of technical chart is 1150. time frame to acheive the target is 1 to 3 months.
Disclaimer: Not a personal trade , views shared for educational purpose only
Sunpharma might form a new high (26/09/22).Sunpharma on the weekly time frame has given a nice bullish engulfing candle and a nice 6% return this week.
The market has given a negative return but this stock has remained in green.
There is possibility of another up move in the coming week and the stock may form new 52 week high.
It is following the market movement. It has broken the resistance level of 900 and retest the levels.
Three points confirmation for a trade
1. Crossed 20 ema on the daily time frame.
2. Closing above the resistance level, high volume break out and closing above 200 ema on weekly time frame.
3. Candlestick pattern :- Bullish engulfing pattern.
If the stock breaks and closes above the levels of 925 on the daily time frame, a trade can be initiated.
Targets :- 940-45, 950
Wait for the stock price to cross the level. Watch for the price action near the levels before entering the trade.
A swing or intraday trades can be taken in the stock.