SUNPHARMA trade ideas
Sun pharma Forming a symmetrical triangleSymmetrical triangle is formed in Sun pharma if breakout then 850 is short term target.
DESCENDING TRIANGLE IN SUNPHARMA ( ANALYSIS OF SUNPHARMA)A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. Oftentimes, traders watch for a move below the lower support trend line because it suggests that the downward momentum is building and a breakdown is imminent. Once the breakdown occurs, traders enter into short positions and aggressively help push the price of the asset even lower
How to Trade a Descending Triangle
Most traders look to initiate a short position following a high volume breakdown from lower trend line support in a descending triangle chart pattern. In general, the price target for the chart pattern is equal to the entry price minus the vertical height between the two trend lines at the time of the breakdown. The upper trend line resistance also serves as a stop-loss level for traders to limit their potential losses.
KEY TAKEAWAYS
1. A descending triangle is a signal for traders to take a short position to accelerate a breakdown.
2. A descending triangle is detectable by drawing trend lines for the highs and lows on a chart.
3. A descending triangle is the counterpart of an ascending triangle, which is another trend line-based chart pattern used by technical analysts.
Clear buy call for intraday profitNice pattern breakout for intraday gains.Resistance break and following new trend.right time to buy and want to know how to make 5% to 50% just dm to 7989408915
Wait and buy ( not a recommendation)Wait and buy ( not a recommendation)
Buy price 796.75
Stop Loss at 787
Target Price 840
SUNPHARMA DESCENDING TRIANGLE FORMATIONSUNPHARMA has formed a descending triangle and on a important support levels go short only if breaks the support levels and take the targets as marked on chart or as per your analysis. Comment down if you enter the trade and share your views on this.
[POSITIONAL] SUNPHARMA LONG BET risk: 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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SUN PAHRMA BUY LEVELSThe stock is looking good to buy around 755 and can add more around 740-735 if we get these levels for 790-780 Target until the lower red line is intact.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
SUNPHARMA 15 MIN SUNPHARMA facing a heavy rejection from the above levels if breaks the we can go long to take target 1 as well as target 2 if the momentum holds.
Sunpharma 4hr *For educational purpose only it's not a call do your own analysis.
Stock was trading in a flag & pole. Today it has given Breakout of pattern, can go for long for very short term period.
Thanks!
#Breakouttrades.....
Simple Trade Setup | Trade Setup | 30-08-2021NSE:SUNPHARMA
Observation
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:
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Trade Setup for Date 27-08-2021:
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 tomorrow.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
SunPharma forming flag and pole patternSunpharma seems to be forming flag and pole pattern in day time frame should reach till 802 in no time and once 802 is broken there is no limit to the upside
Note: This is for educational purpose only
sun pharma for long term investmentbuy near 760, stop loss 741 . target 799 , 855 ,898.5
please take your advice from your financial advisor before taking any trade.
all the best
