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strong short sun pharma clear breck down stop loss 565 target 570\ 560\ 540\
breakout trade in sunpharma follow proper position sizing
Monthly Charts force us to take a step back and give us no choice but to identify the direction of the primary trends. We use these charts to put shorter-term trends into context and this exercise is particularly useful when the market is experiencing heightened volatility. Nifty Pharma has been a great winner for us longer-term, and despite our near-term view of...
Analysis: We can see further downfall from CMP till 407.6 and acts as support zone. If it takes support it can move upwards or else if it breaks support zone further it may fall till 372.6.
It has been in a narrow range for a few months, expecting it to rise to high of the range.
BULLS ARE about to TURNING INTO BEAST
disclaimer... not an investing/trading recommendation
Broke out with a big candle and consolidating in a triangular form. A support line is holding the price. So if this line is protected, price can see northward move targeting at least the prior top.
One can enter at CMP for potential upside up to 825 in 45 days.
Entry 610 which triggers the breakout Stop Loss and Targets are Mentioned in charts
We can buy from here following are reasons:- 1) Made exact double bottom in monthly chart. 2) broke the trend line 3) made doji 4) Made divergence on MFI 5) SL is 434, and tgts are all above fiboo level, risk reward ratio is best
sunpharma long wait for break out
wait for cloud break out and pervious resistance level if price closed above the resistance level new trend start . Keep on watchlist
If Sunpharma closes above 470, it will come under the ambit of the Gann fan and likely to turn bullish