sun pharma unable to cross 700-715 resistance zone..Formed doji with high volumes.selling pressure coming in..wait for confirmation then short it..
Sunpharma came out with numbers today post market hours. On the face of it, Results look very good. Tomorrow, Sunpharma will try to fill up the GAP it created. Hence Go long if it opens in Green and close the position as soon as it hits 700. For any reasons if it opens above 700, then wait for some time to see if its taking support at 700. If yes then Go Long...
Approaching first accumulation zone of 630 2nd accumulation at 591 Target one 818 target two 960
SUNPHARMA looking soo weak... cup and handle breakout so short this stock here Target-650-600-550 also in this month
Price has reached an important support level in the monthly chart. Am watching if this level would arrest the recent fall. I would ideally prefer a "Hammer" kind of a candle this month and a breakout above upper magenta line. A combination of these two would give me the confidence to buy this stock. Until then, it makes sense to watch this one :)
Sun Pharma touching its long term support and forming a falling wedge, there may be a good buying opportunity at around 710.00, after touching 710.00 may change trend in upward direction. Risky Trader may go long in sun pharma at CMP, conservative or investors enter above 750.00.
It is been observed that the price action breaks out from a descending triangle on hourly chart, indicating further bullishness and positiveness ahead. It is been consolidating for a while and this break out shall boost the movement towards the next resistance level at around 780 levels. Consider it a good buying opportunity. Target: 782 Stoploss:745
BULLISH GARTLEY FORMATION IN SUNPHARMA WITH POSSIBLE TARGET OF 774 AND 785 ....KEEP STOP LOSS AT 703
Watch the rally or the sharp spike up and the relaxed and slow drift lower to support. The fall indicates there is little selling pressure. Notice the bounce off support via a nice Hammer candle and higher volume. As long as the recent low 730 is not breached, I expect a rally past 772.
Testing my understanding on XABCD pattern..You are most welcome to point my mistakes..
SUNPHARMA Formed bullish classic pattern in 30min chart its show sunpharma will up soon and blasttt till 772-791+++++ support at 740-730
It is been observed that price action failing to breach 770 levels due to selling pressure on higher prices that limiting the price action to 770 levels where it formed a double top (V-shape). Now it is a good time to short it with stoploss at 770 levels. Target: 745 Stoploss: 770 Risk Reward: 1:5
Sun Pharma Chart is a nice case-study for students of technical Analysis. Irrespective of what your area of expertise is, there is something for everyone. Harmonics, Point & Figure, Wyckoff, trend channel and Andrews Pitchfork to name a few. I expect price to test the red-colored middle sliding parallel at 890-900 band.
A Good Trendline Short buildingup 1. Trend line not violated for 1 year 2. 5 touch points 3. Good angle of trendline.