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Sun Pharmaceutical Industries Limited

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SUNPHARMA trade ideas

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.
NSE:SUNPHARMA
by capitalsmack
[POSITIONAL] SUNPHARMA LONG BET risk: 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 ********
NSE:SUNPHARMALong
by Palkesh_Agrawal