SUNPHARMA trade ideas
Hold long SUNPHARMAThe smooth swing curve is indicating that the potential of SUNPARMA has increased, and it is trying to reverse back to its all time high. Well, it surely going to take a long-time. But the fundamentally strong share is good to hold long.
Sun Pharma Consolidating in a Tight RangeSun Pharma has been consolidating in a tight range , on the daily chart. It may give a possible breakout of this range in the short term. Even on a shorter timeframe - hourly chart , stock has retested the resistance/the supply zone multiple times . The supply zone from 677- 680 has been tested by the stock multiple times. Any resistance/support zone when tested by a price , multiple times, it becomes weak and the stock breaks out of the same zone in most of such scenarios.
SUNPHARMA: A Bullish TrendTechnical Analysis of: NSE:SUNPHARMA
The Elliott waves Cycle Oscillator is indicating a detection of an impulsive (ascend) wave. The Elliot wave is showing an IMPULSIVE movement, showing an UPTREND . From 643.75. The waves 1, 2, 3 and 4 is completed at 643.75, 594.45, 704.05 and 666.25 respectively.
From the point 666.75 wave 5 is starting and projection range for wave 5 is in between 707.05-721.85.
Seeing a Bullish trend further ahead, the RECOMMENDATION is to BUY .
Disclaimer:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
SUNPHARMA : Momentum SUNPHARMA : Momentum can be seen above 680. Possible 686 - 692
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Sun Pharma - Breakout RetestSun Pharma retested a breakout.
It the stock bounces once again from close to 652/655 a long can be initiated with a tight 3-4% SL. (630-635)
We would double down on the play if it moves in ur favour above 695.
SUN PHARMA TRIANGLE PATTERN :)Date: 20/06/2021.
PROS: 1. stock has a very good triangular pattern ,if it's breakout it will move further.
2. on 18th friday it forms a good bullish hammers represents buyers are in control.
3.the hammer forms at near 50 EMA and at support.
4. BUY SELL TARGET is your own trading style
CONS: 1.if its breakdown then it will move down more .
2. wait for the confirmation candle
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Sun Pharma Cmp 668.50 dated 18.6.2021Sun Pharma Cmp 668.50 dated 18.6.2021
1. Symmetrical triangle support @ 660.
Buy for a tgt 673-680-686-694 SL 660
It is just a view, pls trade at your own risk.
▰ Stock of The Month #4: SUNPHARMA ▰▰ Stock of The Month #4: SUNPHARMA ▰
📌 I have found 25 new patterns on the charts. These are original and unique patterns that can achieve their target almost 80-90% times. Here, I have posted one of my favourite 💕 chart patterns.
☆ I will post the remaining patterns one by one every month. For more, you can check out my previous studies 😍 as well. Kindly see my announcement section for all the latest.
▣ Key Highlights:
➟ Time frame Weekly ₩
➟ W pattern ⓦ
➟ Trend line ⍩
➟ Rounding Arc ◡
➟ Flag Pattern 🎌
➟ Unique Confluence Ⓤ
📌 Levels are:
Entry: ▲ 710
SL: ☢ 660
Target: ➚ 920/1080
RR: ☈ 1:7.5
Return: 50%+
☆ Follow me @ tradingview for more updates. Kindly like the chart 💗 & share this analysis.
☆ Thank you. Happy Trading!!!
Best Regards,
𝘿𝙧. 𝙎𝙝𝙖𝙢𝙧𝙖𝙟𝙖 𝙉𝙖𝙙𝙖𝙧
𝙋𝙝𝘿 𝙞𝙣 𝙏𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙮.
✮ Disclaimer ✮
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Sunpharma Bull Flag Chart Pattern & Trading .The bull flag pattern is a great pattern to add to a forex trader’s technical arsenal. Explosive moves are often associated with the bull flag. This article will look at the potentially higher probability forex trading opportunities of the bull flag pattern.
parallel channel-INTRADAY SETUPLOGIC, LEVEL AND TARGET WELL MENTIONED IN THE CHART
NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success.
(Do talk to your financial advisor before making any investment decisions)
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