NSE:SUNPHARMA
Sunpharma can be a great shorting oppurtunity once it breaks down from its strong support level.
Keep taregt/sl as per your risk to reward ratio.
NSE:SUNPHARMA
Sunpharma Looks weak after its quarterly results
Have provided two entry points
High and Low of Fridays candle - You can enter short trade if it touches high of friday candle with stop loss of 5 and if its gaps down and touches friday's low - still you can short with stop loss as fridays close
The target is open - so keep booking profits and keep trailing...
Looks beautifully bearish in weekly making lower highs. It was at an important weekly level in last two weeks. The red candle rejected the level as well as 50 EMA, giving me a negative bias.
On 8th, Trendline was mildly broken with a big engulfing candle and today, it was clearly broken, though with a green 50EMA rejection...
SUNPHARMA will release its report tomorrow where analysts expect a slight drop in revenue. In charts, it's making an ascending triangle in smaller timeframes but a huge Inverse Cup and Handle pattern which indicates huge downtrend so the price will continue moving down to 340 before making a big jump for a bull run towards 700. Long term Investors may choose to...
Marked swing Points, trend lines and Fibonacci level can be used for trading along with some momentum indicators.
Try to lookout for confluence of these parameters, don't trade solely using any one of these parameters.
P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal.
Invest your capital at your own risk.
