SUNPHARMA trade ideas
#MOTHERSUMI #SUNPHARMA #NSE #WACHLIST FOR 19-1-2021#MOTHERSUMI #SUNPHARMA #NSE #WACHLIST FOR 19-1-2021
sunpharma BUy Sun Pharma abv 615 sl 595 tgt 630 plus
Disclaimer
I am not SEBI registered Ananlyst Kindly consult your fianancial advisor before taking any trading decisions
sun pharma can shine above the purple trend linedo watch for a break out above the purple line. it has been acting as resistance since 2018
Sunpharma 6/1/21 Wednesday Strong possibility to achieve Target 1. If momentum and trend continues can achieve Target 2 as well. One should watch 1st 5 minute candle and then trade for Target. Do not carry forward, for 7th January .
ELLIOT WAVE IN SUNPHARMAELLIOT WAVE ANALYSIS
WAVE 1 (UPTREND WAVE )FROM 397.65 TO 560
WAVE 2 (CORRECTION WAVE) RETRACED ABOUT 61.8% FROM 560 TO 450
WAVE 3 ( UPTREND WAVE ) 495 TO 925 (2.618 EXTENSION)
WAVE 4 (CORRECTION WAVE ) AS SHOWS IN CHART
WAVE 5 ( LAST BULL WAVE) AS SHOWN IN CHART
THESE ARE MY INDEPENDENT ANALYSIS . HOPE IT HELPS :)
sunpharma will flystock as given a close above major resistance 610 now next major resistance at 645-650 levels ,one can enter long ,
[Turtle] SunPharma StraddleSold 600PE at 24.5
Sold 600CE at 28.2
Net IC is 50. It looks fantastic range for this month. (Reason for thinking is already plotted.)
SunPharma at resistanceSun pharma at the resistance zone. Even if it breaks out, the next big resistance is at 640-650 zone. The stock gave a good move in November and December and is consolidating and trying to break the long-term trend.
The idea is to do a ratio spread by buying 1 lot 640CE and selling 2 lots 650CE. The trade can be managed by selling puts if the stock breaks out. The initial trade has no downside risk and upside breakeven at around 665 with max profit at 650.
