Short SUNPHARMA @ 1140 TGT 1070SL 1170. Two inverted hammer at resistance area.
Stock is not able to maintain highs with market sentiments already negative.
SUNPHARMA trade ideas
SUNPHARMA: Good Buy in PHARMA Space"TECHNICAL ANALYSIS OF SUNPHARMA
The LAST CLOSE PRICE of SUNPHARMA is 999.6. The PARABOLIC SAR is showing the UPWARD SIGNAL with TREND as UPTREND . The FIBONACCI LEVELS analysis shows that the CLOSEST FIBONACCI LEVELS is 0.618 at the FIBONACCI STOCK PRICE LEVEL of 999.45. From here, the Key Support and Resistance levels are SUPPORT 1 at 985.1, SUPPORT 2 at 973.15 with RESISTANCE 1 and RESISTANCE 2 at 1002.15 and 1023.85 respectively. The Key 50% FIBONACCI LEVEL stands at 973.15 which is the crucial Fibonacci Level determining whether the scrip will maintain the trend or not.
The STOC RSI has the values K and D as 100 and 95.75 respectively. At this level it the status is OVER BOUGHT. When we look at the Moving Averages, MACD is the crucial indicator to look into. With MACD VALUE at 2.71 and 22.23 at -4.36 alongwith HISTOGRAM showing values of 7.08, the STATUS is clearly UPWARDS.
The best indicator to determine the Trend Reversal is FISHER TRANSFORM and currently the values of FISHER and TRIGGER stand at 2.51 and 2.05 with signal as UPTREND. A very important factor while making the investment is to see if there has been already too much of Buying or Selling, and that are we entering too late into the transaction or not. Thus, with WILLIAM's R% value at -0.0505 the STATUS is OVER BOUGHT.
No one wants to buy costly things, and thus always look for the bargain or appropriate price levels to buy things. Same applies to Stocks, howver the only exception would be some Hot Stocks that one wants to have any price. Looking at this perspective, the P/E RATIO of the stock stands at 27.94 which signifies its Price Level to be OK.
>>> RECOMMENDATION is : BUY.
TARGET PRICE 1 = INR 1002.15.
TARGET PRICE 2 = INR 1023.85.
STOP LOSS 1 = INR 985.1.
STOP LOSS 2 = INR 973.15.
Disclaimer: The following information is for educational and informational purposes only and should not be construed as financial advice or a recommendation to buy, sell or hold any stock or investment. Technical analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. However, the future performance of a stock or investment cannot be guaranteed based on technical analysis alone, and other factors, such as economic conditions and company fundamentals, should be considered when making investment decisions. Before making any investment decisions, please consult with a licensed financial advisor and conduct your own research to determine if an investment is suitable for your individual circumstances and risk tolerance. Past performance is not indicative of future results, and investing involves risk, including the possible loss of principal"
Sunpharma towards 1200 All time high !As per the Day chart , SUNPHARMA inching towards 1200 all time high!
Need to be cautious as Retracement from this level will be healthier for Swing trading
Sun Pharmaceutical Ltd - 3 year long upward parallel channel conSun Pharma is one of the prominent players in the pharma industry. Reduced debt significantly with more than 50% promoter holding.Moving through an upward parallel channel for 3 years. Expecting the levels near to 1300 within 5 months .
Bullish on SunpharmaWould go long on Sunpharma, target and Sl mentioned in chart. It would be few weeks before target is achieved.
Highly Bullish on Sunpharma Sunpharma has given a BREAKOUT on MONTHLY BASIS and it is Multi Year high Breakout . Also Time Cycle for this is BULLISH
Even today it has not fallen a lot - Showing Bullishness and Retesting its Breakout Level
Approching Multi year resistance 1200Sun pharma is approaching a multi year resistance zone of 1200. Weekly chart is hinting at a classical rounding bottom chart pattern.
SUNPHARMA -- WEEKLY ABCD PATTERN IN CONTINUATION 23/07/23Buy Sun Pharma with Harmonic Pattern on weekly chart (ABCD)
1. Harmonic Pattern ABCD on weekly chart with TGT 1200
2. M/W/D RSI Above 60
3. SL below 1130
Bearish Harmonics In SunpharmaSell PRZ
Bearish Cypher - 1045.15
Bearish Shark - 1057.8
SL - 1073
Target - 1026/1006
If SL Triggers.
Sell PRZ
Bearish Alt Shark - 1088.5
SL - 1107
Target - 1026/1006
Sun Pharma - 5 Point VCP setup to conquer 1070+Here are the key things to see in this setup - and why its picture perfect
Volatility compression before launch from 1000 - classic Minervini style VCP
Higher volumes on the push off from 1000
Momentum on daily turning positive
Earning coming up- obviously people in the know are in
Relentless buying above 1020 - absolutely no pull backs
Go long with caution as this has taken off. But a gorgeous setups like this are rare indeed - even if you dont buy, keep track of it.
Dont chase - buy pullbacks to the 21 ema only
Sunpharma breakout On a daily chart time frame , important resistance zone around 1069 (yellow line marked on chart) has been broken with good volume (higher than average)
On 2 hrly chart a rectangle shaped consolidation has been broken, vol during the consolidation was low , and is high on and after breakout
Rise is seen in ATR on and after breakout, and had an overall rising ATR during the bullish leg
It can be used for short as well as longer time frame i.e. trade can be loosened
Depending on candles tgt can be increased
CUP AND HANDLE SUNPHARAMACUP has been formed and was in process since 2015 .1120 has been a major resistance and further pullback can be witnessed in order to form handle . target can be the depth of the cup which is 1899. right buying time would be after the pullback
SUNPHARMA - 62% RETURNS!!!BUY - SUN PHARMACEUTICAL
CMP - Rs. 969
Target - 1: Rs. 1330
Target - 2: Rs. 1580
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Technicals - Cup and Handle BO
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This is just a view by an expert analyst, please invest at your own risk.
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Sun Pharma Good For More UpsideSun Pharma
CMP : 1097
DISCLAIMER - We are not a SEBI Registered Advisors. This channel is purely for Educational purposes only. We will not be responsible for your profit and loss.
Sunpharma longAfter BO Sunpharma retest and going for 5th wave fo long now with sl of retest candle low
SUNPHARMA TARGET 1198SUN PHARMA weekly uptrend channel all-time breakout from the strong resistance 1069 with day bullish engulfing. If the weekly close above 1069 it will reach the target of 1198
SUNPHARMA 1DTF breakout Sunpharma1dtf Breakout from a beautiful pattern
Its a good opportunity or can enter at a retest of the resistance line
SUNPHARMA GIVING BREAKOUT FROM F&PSunpharma giving breakout from F&P pattern
coming out from long time resistance
huge volume trading above 20ema
for education only
Sunpharma waiting for breakoutLooking good for short term concentrate if price sustain above 1063 in daily..
Sunpharma breaking out of the trend and approaching 1160Sunpharma has broken out of the falling trend and if the momentum continues, the first Fibonacci target would be 1160.
SUNPHARMA - possible correction SUNPHARMA -- Quick up move from 925 to 1050+ levels in 2 weeks.
Based on Harmonic pattern - we can see Bearish Cypher in hourly time frame.
And even though the Market is in a strong uptrend yesterday - we see a fall from 1053 to 1032.
If the trend continues after slight consolidation at 1026- 1018 levels, we should be testing 972 soon.
1024 will be critical for support - keep an eye & trade carefully.
Add to watchlist.
Swing Trading Opportunity in Sun PharmaOn the daily timeframe chart of Sun Pharmaceutical, the price is approaching a resistance zone that has been tested multiple times. As this resistance has been tested multiple times, it may be considered a weak resistance. If the price gives a strong breakout above this resistance zone, it could present a great opportunity to take a swing trade.
For entry, we can go long after a breakout of a strong bullish candle above the resistance zone. It is advisable to initially enter with half quantity, as most breakouts tend to fail. After the breakout, when the price pulls back to the flip zone to take support and then starts moving in the direction of the breakout, we can add the other half quantity. Sometimes, the price doesn't pull back, which is why we enter the trade with half quantity after the breakout candle closes.
Regarding the stop loss, we can keep it below the resistance zone with some buffer.
We can set the target near the all-time high, as it may provide a significant resistance level and a potential area of profit-taking for traders. However, it is important to note that we should also monitor the price action closely and adjust our target accordingly if we see any signs of weakness or reversal in the trend.
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