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Sunpharmaanalysis

SUNPHARMA ANALYSISThe CNX Pharma Index is aiming towards the 10,000 mark and Sunpharma seems good to reach 500+ levels soon. In 75min CB, the price was unable to close above its resistance. If the resistance is broken now, an upmove towards 490-495 can be seen. Above 490 ,the next resistance zone is around 504 level. A long trade will be initiated only if the resistance is broken. However, Nifty 50 and CNX Pharma's correlation coefficient is on the decline in weekly analysis as seen in the image below : So,as per the data, if Nifty inches up higher in upcoming days,there could be a fall in the Pharma stocks which could make this trade a risky bet. Weekly Chart : This is just an analysis by me and not a trading call. Kindly trade as per your own RR.
NSE:SUNPHARMALong
by internal_0rgan
2
IS SUN PHARMA READY FOR RALLY SEE YOURSELF !!SUN PHARMA PRICE ACTION FOR COMING DAYS & MONTHS. 1. I made a green color circle showing a n evening star pattern. Since it is activated now , will it has potential to move price down or it has lost its effect. See when a pattern appears on chart and if gets activated then no body can predict how far its effect travel to . Same is here, I made a green dotted line as soon as it breached on daily basis and close above green dotted line those who are shorts should logically leave their shorts . 2. On the other hand if price take out white solid trend line to down side then one should leave longs. Then next target would be red dotted line. It means the effect of an evening star is still going on. Always read candle sticks in this way. 3. As far as white solid line is not taken out I am bullish on this stock. Those who are long in this scrip can hold but follow the exit condition strictly. New entrant should wait for red upper zone to breach only then long can be initiated by keeping sl of this zone. A good move can be seen in this scrip if red zone is breached upside to first halt in form of white dotted line. 4 . There price can pause sometimes and will resume it journey to blue zone.This way I manifested the whole trade of sun pharma for traders . Now come to investors . They should invest 30% capital here and if any circumstances price come to red dotted line and this line is not taken out down side then can invest 50% here. The chart speaks like this. Rest market will decide. Note. All trading positions and investing should be taken on advice of your financial consultant. YOGESH VATS
NSE:SUNPHARMA
by yvatsji
23