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Sunpharmaanalysis

Sun Pharma- Broke Major Resistance | Positional IdeaHighlights: 1. Broke out of a major resistance 2. High volume on Breakout 3. Bullish market structure You are always advised to use an appropriate Risk-Reward ratio as per your strategy. About the Company: Sun Pharmaceutical Inds. Ltd is an international specialty pharma company. The company also makes active pharmaceutical ingredients. In branded markets, their products are prescribed in chronic therapy areas like cardiology, psychiatry, neurology, gastroenterology, diabetology, and respiratory. The company is engaged in the manufacturing of products in the following therapy areas: CNS disorders, Cardiology, Diabetes, and Metabolic disorders, Gastroenterology, Ophthalmology, Oncology, Pain, Allergy, Asthma, and Inflammation, and Gynecological. Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
NSE:SUNPHARMA
by johntradingwick
1
SUN PHARMA | TRADE SETUP 26-07-2021NSE:SUNPHARMA It have broken the trendline with good volume and also our level of 689 and hit our target 1 placed at 695. It closed at 694. Trade Setup for 26-07-2021. 1) If it goes down till level of 691 let it go don't try to short it. If it gets support from 691 and trade above it then it will be easy to go long and all the targets are mentioned on the chart. 2) If it fails to hold the level of 691 then next support is at 689. If it gets support from 689 and trade above it then it will be easy to go long in trade. All the targets are mentioned on the Chart. 3) At this moment there is no short/sell trade opportunity in SUNPHARMA. It will only give opportunity for sell/short trade below 680 and then the fall will be till 670. 4) Don't chase if it open with gap up. Let it cool down for initial 15-20 minutes and judge the price action and only trade on levels. Have a good weekend. Comment if my ideas are helping you to understand price action and levels. Do comment if you have any doubt.
NSE:SUNPHARMALong
by Trading_hawk
SUN PHARMA | Target & Levels | 20-07-2021NSE:SUNPHARMA It has closed above the critical level 689. 689 is level from Fibonacci. Strategies for Tomorrow | 20-07-2021. 1) If it Gap up between 690-692 then wait till if it take support from 689 range. And if it makes Green candle in 15min time frame then there will be the perfect entry to Go long. Targets are mentioned on the chart. 2) If it Gap up between 690-692 and then goes up and faces resistance in 695 range then wait until it comes to 689 range and let it take support from there. And from 289 range if it makes Green candle in 15min time frame then there will be the perfect entry to Go long. Targets are mentioned on the chart. 3) If it gaps down in 685-687 range then wait till it gives breakout of 689 range. Then there will be the perfect entry to Go long. Targets are mentioned on the chart. 4) I would prefer not to take short/sell side trade in SUNPHARMA. If any doubts/suggestions, comment below.
NSE:SUNPHARMALong
by Trading_hawk
Sun Pharma Consolidating in a Tight RangeSun Pharma has been consolidating in a tight range , on the daily chart. It may give a possible breakout of this range in the short term. Even on a shorter timeframe - hourly chart , stock has retested the resistance/the supply zone multiple times . The supply zone from 677- 680 has been tested by the stock multiple times. Any resistance/support zone when tested by a price , multiple times, it becomes weak and the stock breaks out of the same zone in most of such scenarios.
NSE:SUNPHARMALong
by anusuabose92