Short Sun Pharma Sun Pharma is currently trading at 925 levels which is currently in oversold zone.
It may consolidate for a few days as mentioned in the chart itself.
Short position can be opened near 925-940 levels with the stop loss around 945 levels on daily closing basis.
Targets can be considered as 895 & 866 levels.
This is my personal opinion, please do your own research before entering any trade.
SUNPHARMA trade ideas
Falling wedge pattern reversal in SUNPHARMASUNPHARMA
Key highlights: 💡⚡
📈On 1Day Time Frame Stock Showing Reversal of Falling wedge Pattern .
📈 It can give movement upto the Reversal Final target of above 965+.
📈There have chances of breakout of Resistance level too.
📈 After breakout of Resistance level this stock can gives strong upside rally upto above 1075+.
SUNPHARMA - #intraday Chart Analysis || 2nd June,2023 #stocksAnalysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Trade Idea levels for 2nd June, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
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DISCLAIMER:
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* Please do your own research and/or contact your financial advisor before taking any trading opportunities
** We will not be responsible for your profit or loss
*** We are NOT SEBI REGISTERED
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SUNPHARMAAfter analyzing SunPharma's stock, there are indications that a potential breakout may occur in the near future
However, it's important to note that stock market investments come with inherent risks, and predicting breakouts or price movements accurately is challenging. It's advisable to consult with a financial advisor or conduct further research to validate the analysis and make informed investment decisions.
Short Sun pharma>>>sell here i draw parallel upside channel on sun pharma chart but you can notice it's given downside breakout.
when breakout is on bigger time frame its more relevant or trustworthy same mankind stocks news is in market that time its ready to go down.
i am looking for bearish sentiments on chart.
Sun Pharmaceutical Industries Limited, commonly known as Sun Pharma, is an Indian multinational pharmaceutical company that manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) primarily in India and the United States. Sun Pharma is the largest pharmaceutical company in India and the fifth-largest specialty generic pharmaceutical company in the world.
Bearish sentiment refers to the negative outlook that investors have towards a stock or market. It can be driven by a variety of factors, such as weak financial performance, unfavorable market conditions, negative news, or changes in regulatory environment.
In the case of Sun Pharma, bearish sentiment may be due to factors such as:
Regulatory issues: Sun Pharma has faced regulatory challenges in the past, including FDA warning letters and product recalls. Any further regulatory issues could negatively impact the stock's performance.
Generic competition: Sun Pharma operates in a highly competitive market, and increasing generic competition may affect the company's revenue and profitability.
Dependence on the US market: Sun Pharma derives a significant portion of its revenue from the US market, and any adverse changes in the US healthcare system or regulatory environment could affect its performance.
SUNPHARMAi guys, In this chart i Drew My Best Levels in SUNPHARMA for Long position using 4H Time frames.... I found a good level here. I Observed these Levels based on price action and Demand & Supply which is My Own Concept Called "PENDAM ZONES" ... Don't Take any trades based on this chart/Post...because this chart is for educational purpose only not for Buy or Sell Recommendation.. Thank Q
Head and Shoulder in Sun Pharma (09/05/23)Perfect Head and shoulder break down can be there in the Sun Pharma stock. It is trading around the neck line.
Sun Pharma is in the sell zone, as the market has retest the recent 50% fib levels.
This stock never fails to respect the fibonacci levels.
It has been consolidating and on the daily charts it has formed a gravestone doji. Stock is near it 200 DMA and if it breaks down below the zone the moving average will also be passed.
Stop loss and target levels are provided in the chart itself.
Wait for the price action near the price levels before entering the markets.
SUNPHARMA - Pullback in long term uptrend now complete
Consolidation below highs over. Turning back on the daily charts as well as weekly charts
Bull trend on weekly charts started in 2020 - and the past 2 months were a longer term pull back in this bull trend
Stop Loss - 950 which is the median of the level at which consolidation started
Price Target - 1050 which was the previous high
Low Risk / Higher Probability Trade - Sell 1000 - 950 put spread and collect theta. IV at 24% is decently high for this stock
Higher Risk Trade - Buy 1000 - 1050 call spreads and close them when the stock gets to 1030 or so
Disclaimer & imp rules
* These are merely ideas and not a recommendation to take a trade
* Trade small size & keep a wide stop loss (atleast 1.5 ATR). Dont fall into the trap of tight stop losses & big positions
* Be patient when in the trade - the stock doesnt know you or care about your feelings.
* Be ruthless with cutting trades that hit your stop
* Be patient & wait for trades to come to you. Do not chase stocks - that only ends in disaster