General trend is bullish and it moves in a contracting channel. It tested the lower bound of the channel multiple times and bounced from it. Last candle bounced back with relatively good volume from the march 20th low confirming that buyers are still interested in 604 levels.
This trade will get invalidate once it breaks the lower bound of the channel.
Clearly the rsi shows that the momentum is changing and it is struggling to make higher high. All eyes on whether it can break the lower trend line. It will be a short if it is breaking the trend line. Trade not active yet
SunPharma is on a roll to down trip. Last few days were red. Fib extension is at 1.618. RSI is deep down at 18. Correction in this trade is much needed !! All we just need is a one strong bullish candle for trade long with
Target 1 : 500
Target 2 : 520
Trade valid only if it is above 460 with bullish reversal patterns.