bullish pennant pattern formed in 15 min timeframe in SUNPHARMA
Go long once 1153.60 level breaks which appears to be a good resistance level.
SL should be at ~1149.50 level
Your first target could be 1169.70 level (52-week high level)
Happy Trading :)
For all trade on my Auto Harmonic patterns indicator trade setup -
Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail...
Stock is facing resistance at Current levels since last 3 weeks and given price rejection from Upside. Any daily candle close below 1120, Can lead to downside till 1080 (Support on Chart). Watch closely for triangle breakout/ Breakdown.
Sun Pharma is looking bearish as last 3 week Stock facing resistance at current lavel and not able to break it. Any daily candle closing above 1120 can lead to downside till 1080 as its next support. Nifty Pharma is also looking slightly weak after continuous rally. Watch Sun Pharma closely for Traingle Breakout/Breakdown.
I am looking at today's Closing which is at crucial level. according Fib level from previous swing low to today's High give 0.618 retracement.
What I am Assuming :
with Reference of RSI Level previously 60 to give deep towards 40 Level then around 6% retraced. same way if current RSI go to touch the level of 40 then one interesting pattern will emerge which is...
Short term sunpharma view... #SUNPHARMA
If sustain above 1000 then bullish momentum expectation ...
Charts for Educational purposes only.
Strictly follow Risk Reward and Stop Loss if you consider the level
Thanks,
V Trade Point
Sunpharma Chart Analysis......03/08/23
Sunpharma Long above 1160
Sl - 1120,
Target - 1275
Enjoy !
Note : In Sun Pharma, we have entered from 1025 lvl., if you want to make a new entry, then go above 1160.
NSE:SUNPHARMA
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and...
sunpharma is giving a long breakout from its weekly range trading below its previous high since 2015 after that it giving a breakout from that long range
NSE:SUNPHARMA
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and...
Sunpharama on its daily chart exhibits a fresh breakout & could head to the levels of 1164 in near term.This is new updated chart.
Its only an observation & not any suggestion.
RECTANGLE PATTERN -
Sun Pharma has just broken out a descending rectangle pattern on the daily chart which had been forming since the beginning of the year
SUPPORT-RESISTANCE LINE -
After breaking out it has also tested the previous strong resistance trend line twice making it a strong support line now
SIMPLE MOVING AVERAGE -
It has also shown...
