SUNPHARMA FOR POSITIONAL The chart has formed a Head and shoulders pattern. Find details below.
Entry CMP(828). Safe one can wait till the daily candle closes above the neckline.
SL 814
Targets 870.
Happy trading!
SUNPHARMA trade ideas
SUNPHARMA TRADE SETUP FOR TOMORROWThere is a strong resistance of 840, stock two times reverse from this level,
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And then recovered in a v shaped now again today touched the level and made the breakout candle,
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So tomorrow if share goes above 840, we can buy this trade.
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What's your view on this comment below in the box
Simple Trade Setup | SUNPHARMA | 11-10-2021 [INTRADAY]NSE:SUNPHARMA
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.
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.
sun pharma sunpharma looks so bullish if it breaks previous day high we can go long and take up side target
Strongest among peers.Sunpharma is continously in uptrend and had given a breakout after a good consolidation. Stock has tested its resistance and got a bounce back from that zone. Here is the reason why we can take a entry here:-
1.RSI is above 60 in both weekly and daily chart, which shows strong momentum.
2.Stock is out performing both NIFTY and PHARMA index.
3.Price taking support from EMA as well as previous resistance, shows an uptrend.
Entry- Above 827
SL- Below 780
1st Target- 865
Get ready for the ride Sunpharma flag and pole pattern completed and tested even the rsi confirm . The target for it is 805 . Let's ride it.
Be sure I am not a sebi registered analytic .
Kindly do investment on your risk
Sun Pharma setup H chartWait for the retest of the box to enter again. Or will have to look for some continuation structure to enter in the existing trend.
SUN PHARMA.... ARE DRUGS GONNA GET COSTLIER....The chart of Sun pharma shows a trendline breakout. Good to enter for decent returns (Targets marked on chart). Risk-averse traders can wait for a retracement to the trendline.
Most pharma stocks look good for a breakout. Happy trading!
SUNPHARMA_LONG_05.10.2021SUNPHARMA looks bullish till 937 levels but before that as a pullback it may test 803 levels and again go up till 862 which will be the first target and then after some retest it may again shoot up and may touch 937-940 levels
Sun Pharma waiting for breakout, Will fly soonHigher Low in the Channel
Volume Increases
Channel Pattern Will Breakout
Good Buildup formed
[Positional] SunPharma Retest BetNote -
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 at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy 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. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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stage is setup for Sun riseChart has broke out of the channel. A minimum SL can be put to enter into the trade
Another example of Darvas boxPharma Being not a big mover for the past couple of months, a heavyweight from sun pharma has shown a breakout from 52 weeks high with volume
Sunpharma 900+ targetGood pole n flag breakout on charts with volume
tgt 850 880 920++
Trade as per your risk
#sunpharma weekly cup and handle breakoutWeekly cup and handle pattern breakout after a break consolidation seen on weekly timeframe
Momentum and trend is bullish all timeframes. Neckline of breakout can be stop loss for positional and swing trades could have breakout
candle on weekly For stop loss. sector is consolidating since 4 months and resisting a bit at the bull zones. and a weekly momentum bearish divergence could be seen And therefore it also make sense to wait for Pharma index to break above that resistance before an entry is made..
SUNPHARMA RANGE BO DONE WITH VOLUME & SUSTAINING WELLAs u see on chart. Price was in nice uptrend consolidated in range and given BO previously also and again formed the range and given nice BO again with huge volume and sustaining nicely above the BO range.
HIGH PROBABILITY SWING TRADE OPPORTUNITY
BUY ABOVE 800 FOR TGT - 875-925+ WITH STRICT SL @ 750
SUN PHARMA BREAKOUT WITH GOOD VOLUME DELIVERYSun Pharma is giving us good breakout here with good vol delivery with good support at 680.
Second RS is closing above 0 this is a good sign.
RSI also closing above 60.
If Nifty Pharma also gives us good breakout then we can see 30-35% up move in this stock. #TrendIsYourFriend
Sun Pharma: Pole & Flag Chart set up & trade opportunity Sun Pharma
- We observe Sun Pharma giving a steep rise in July month end (Pole formation)
- thereafter the stock went in to consolidation phase (Flag formation)
- Now the stock has come out from that consolidation phase
- going forward, on the lower side 780- 760 may provide support
If the stock manages to hold on to 780-760 zone for some time, then 930 / 944 could be a possibility by mid December.
Any dips stock towards 785, could be an interesting proposition to go long in Cash market.
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- Looking at the Derivatives Data, prima facie, it looks like 840-865 zone may be difficult to cross in October month
Now that we have understood important levels with the help of charts, F&O trading strategy that may be considered for October month: Iron Condor
Sell 900 Call option
Buy 930 Call Option
Sell 750 Put option
Buy 720 Put option
The strategy would have max profit potential of approximately 12% on margin requirement till October expiry. Any close between 750-900 on 28 October 2021 would give the desired results.
The strategy tries to focus on managing the risk and roughly provides protection for a fall up to 739.50 on the downside. On the upside, any close above 910.50 on 28 October, would not be favorable.
One can Stay alert, if Sun Pharma closes below 760 or above 880. These levels should provide ample scope to exit with less damage / adjust trading strategy, in case view gets invalidated.
Note: Unlike previous months where strategies worked smoothly, September month was a tough one with stock prices moving crazy.
- Tata Steel although followed the red channel in charts to perfection and was a profitable strategy, it did test out mettle and made us sweat for 2 days
- DLF - had to do adjustments with 2x margin Capital to eventually come out profitable
- Zee Limited was a bad bad reading of data on my part, in fact a terrible one and it went bonkers. Managed to recover a few points but had to pay the price.
If you think trading is an easy way to make easy money, welcome to reality check.
- Focus on managing your risk and protecting your Capital.
- Have provisions for exit strategy
- Remember Survival is the key
I would like to quote a friend of mine here .... "Bachenge toh Ladenge" (We can stay in market only if we survive)
So Take care & safe trading...!!!
The chart pattern has been identified by my student Harsha. If the idea works, you can thank him for the same.
Do read the disclaimer carefully.
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
