The candles have broken the downtrend on the 15m charts.
The candles are taking support at 20 DEMA which indicates an uptrend.
MACD and DEMA have crossed over to the bullish side.
RSI is above 50.
All indicators are positive.
CMP - 675
Stop - 625 on DCB
T1 - 725
T2 - Open, Review at 725
Expected Holding Period - 30 trading days or earlier for T1
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
Formed bullish Peanut pattern in accumulation phase expresses the Fear phase at MAJOR SUPPLY 1H with results into breakout. Further retesting pull-back zone at yellow doted... but if you see observe bearish CUP & HANDLE zone have being leading to frequent breakout upto @648.
Points to be Note (Technical + Fundamental)
1. Nifty Pharma is in accumulation phase...
the buy entry point is mentioned in the chart buy above only if it closes above it. targets 1,2 are given. stoploss can be placed below trendline. the ideas which iam giving here is meant for educational purpose.if you like my analysis like,share and follow me for daily intraday analysis.
Risk vs Reward is 1: 5 . Taking support at 50EMA. Following Trend
600 Bellow Closing day Candle and next day sustain bellow 600 till 12 O'clock.
Reward is open
Pharma Sector Index is weak but i would like to risk 10 Rs
long only if find perfect reversal from PRZ
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
HOW TO FOLLOW ALGO SIGNAL:
1.Strictly use only on 1 hour time frame.
2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity.
Taking a position:
3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open...
Sunpharma is looking fantastic on Daily and Weekly TF. this trade alone can make 94,000 (66x1400) with a single lot of Future with a risk of 30,000/lot . At the end of the trade you'd have made 50% ROI in just a month or 2 if you even have 2lakh Rs. account. Do take it seriously.