SUNPHARMA trade ideas
Sunpharma | trendline BO with volume 🎯⭕ Positional Trading opportunity ! Weekly Chart Alert !!!⭕
--Buy Above =796 or CMP
--Target = 950
--Stop-loss = 708
--Expected Profit = 19 %
--Expected Holding = 3 Months only
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Sun Pharma The Bear is aggressive nowIf Breaks Then The Targets can be Taken at 747.55 .
Time Frame :- 1 Day
Patterns Name :- Double Top and Parallel Name
Symbol Name :- Sun Pharma
Based on Your Own Risk this is only to Show you the Current Pattern .
We are not responsible for any profit or loss .
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SUNPHARMA COULD GO TOWARDS ITS ALL TIME HIGHS.As far as sunpharma is above its weekly trend line, it is demonstrating the strength and can go towards its all-time highs. One can get into this trade, keeping a stop loss below the trend line. Do follow risk management rules and maintain proper position size.
[ INTRADAY ] SUNPHARMA LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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[ INTRADAY ] SUNPHARMA LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
********
Simple Trade Setup | SUN PHARMA | 02-05-2022 [INTRADAY]NSE:SUNPHARMA
Observations:
1) On 1day time frame, we can see it made inverted hammer in up trend and after making new high it was facing huge selling.
If it starts to trade below this candle's low which is 919.55 then the pressure of selling will start. And as per technical levels 920 is breakdown level and 900 is last major breakdown level of it.
Please refer below chart : 1day time frame.
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Trade Setup for 02-05-2022
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.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.