Important SUNPHARMA Levels ( Support & Resistance ) for Monday Market- 24-10-2022.
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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...
#NSE:SUNPHARMA Ascending Triangle with Demand zone marked in 15mins chart.
Earlier IDEA shared with previous demand zone and stock reacted 3% upside from that zone, refer attached chart.
Now sharing fresh Demand zone.....
Sun Pharma is moving up in decent regression trend channel since many days and seems like approaching potential target zone where a small gap is open to be filled
Decent Bullish bars supporting the upmove even in weak market .
Hence the daily setup is to Buy Around 854 Stoploss - 840 Target around - 879
Happy Hunting :)
1) On 1day time frame, we can see it made inverted hammer in up trend and after making new high it was facing huge selling.
If it starts to trade below this candle's low which is 919.55 then the pressure of selling will start. And as per technical levels 920 is breakdown level and 900 is last major breakdown level of it.