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...
SUNPHARMA is breaking down from its long-term channel. It consolidated in the form of a triangle and is now seemingly breaking down from the base of the triangle. The 200DMA is also being rejected. A fall to 735 zone is possible on the stock.
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Wow Descending Triangle formed.
Now we have to wait for breakout either side "15 min preference" should sustain first.
Condition 1: We will only look for Buying once 931 taken out reason being two levels will crossed (Price Action & Triangle).
Initial Target (IT) : 938.
#NSE:SUNPHARMA initially traded positive and got rejection from 920 level, swing changed and momentum turns in to selling,
All 3 targets reached in selling.
attached the chart shared today in live market with levels.
1 Day Time Frame :
1. Sunpharma may give some correction from here
2. Look for trade setup in intraday
> This analysis is for educational purpose only.
> Keep an eye on global market as well, trade as per market condition.
Sun Pharma has shown a good run-up and looking to play some retracement. Sell only if it sustains below 870 for the lower marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
InvestPro India Team
1) On daily time frame, it just closed at 50DMA.
50DMA is placed at 795.19 level.
Please refer below chart : 1day Time Frame.
2) Also on daily time frame, as we already know it has been trading in up trend parallel channel.
And it took support from middle trendline of parallel channel.
Please refer below chart : 1day...
Sell Sun Pharma if it breaks the support line on the downside for the lower marked levels on the chart.
To motivate me, Please like the idea If you agree with the analysis.
InvestPro India Team
let's take look at NIFTY PHARMA index.
1) On Daily time, we can see that it took good reverse from 200DMA and made dragon fly doji.
As per the textbook knowledge, it should work as trend reversal.
We might see good upmove in most of Pharma stock now.
Please refer below chart : 1day Time Frame. ...
EXPLANATION : This is a 4 hour time frame chart of SUNPHARMA . I am seeing very good selling opportunity in SUNPHARMA because of many reasons . It has a formation of head and shoulder pattern , still It has to be made right shoulder . If taken resistance from supply zone entry no.1 activated , If give a strong breakdown and broke its demand zone with volumes and...
Trade Setup for Date 11-10-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
1) On 1hr time frame it is making pole and flag pattern and trading in to the flag channel.
It have critical support zone of 750-752 level.
Please refer below chart: 1 hr time frame:
Trade Setup for Date 27-08-2021:
1) Don't Jump in to trade at the beginning of the...