SUNPHARMA CUP AND HANDLE PATTERN FORMATION IN WEEKLY TIME FRAMESUNPHARMA CUP AND HANDLE PATTERN FORMATION IN WEEKLY TIME FRAME
SUNPHARMA BUY 700/705
TARGETS 860/1200++
SL 640
SUNPHARMA trade ideas
Sun pharmaAfter a long break of almost 5years Sun pharma is inching towards 2016 resistance near 720-730.
Cup and Handle Bullish continuationPost breakout the Bullish Movement will continue with some retracements making a cup and handle pattern. Expect 720 Levels soon.
SUNPHARMA IMPORTANT LEVELS FOR INTRADAY AND SWINGWATCH SUNPHARMA FOR BREAKOUT AND RETRACE FROM THE MARKED RESISTANCE
sunpharma for tuesday (25th may)on 15 min tf , sunpharma is forming a flag....these type of charts usually gives a good move on the upside
but this can be also traded on the downside if the price breaks the trendline downside
wait for retest
keep a target of 0.8 or 1% of the stock......
SunpharmaBuy above 693 with the stop loss of 688. Targets are 698. 703 and 708.
Sell below 685 with the stop loss of 690. Targets are 680, 675 and 670.
good buying opportunity - SHORT TERM. SL - 685 Looks good for a buy above 692 - for a positional target of 720 , watch closely with SL 685
NOT A CALL - CHART STUDY ONLY
SUNPHARMA (Intraday)Sunpharma
Take entry only after the breakout (candle closing)
Buy above 692.50
t1 695
t2 698
sl 688
sell below 687.50
t1 685
t2 680
sl 691.50
SUNPHARMA - Ready to resume uptrendAfter a couple of Doji Candle stick patterns, stock has made a good bull candle today. Looks like consolidation is over and stock is ready to resume its upmove towards its 52wk high. Immediate Short term target would be 720..730. results are due next week, hence may see some volatility around that.
Sunpharma Cup and Handle FormationAs clearly visible, Cup has been formed in the daily chat with neck line broken as well. A traveler is ongoing and may retrace upto a level of 660, which is also near the neck line. Recommended to buy at any level between 660 and 700 while looking at a trader off 1050.
Reach out to me for further queries.
Ujjwal
