SUNPHARMA | Might continue downtrend.If you find this technical analysis useful, please like & share our ideas with the community.
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This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
SUNPHARMA
BULLISH FORMATIONS IN SUNPHARMAOn the 1 Hour Chart of SUNPHARMA, we can see some beautiful bullish Formations of "Bullish Harami", "Hammer" as well as "Inverted Hammer" on the downside levels of the stock. Thereby, indicating a very strong bullish momentum in next trading sessions. In addition to this, the stock seems to be facing a support at the level of 746.25. As plotted and explained in the chart, we can say that it is being expected that the stock can face resistance initially at the levels of 758.45, 763.85, and 770.95. Closing Price (as on 03.12.21) : 753.35
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Let me know, Where does it go?This is how a setup should look like, not saying it's perfect not saying I know it all, but that's what's it about you don't actually know know you always speculate and the thing is you will never know what's next in the market you just need to have view of both sides and make your setup for what looks better to you.
Trend line break out in Sun PharmaT1 was acting as a resistance now acting as support.
T2 is the trendline which price has break through it. These are the signs of bullishness. Wait for the proper confirmation to go long.
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#SUNDARMHLD #SUNDARMFIN #FINTECH #FINANCE #TECH #Iot #ML #AI #ITSundaram Finance Holdings Ltd.
NSE:SUNDARMHLD
NSE: SUNDARMHLD
CMP: 83.65
Target 1: 96+
Target 2: 110+
Time frame: <6months
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia
H&S followed by C&H in SUNPHARMANSE:SUNPHARMA has made inverse head and shoulders in 1H which didn't breakout yet and the right shoulder is now forming cup and handle formation. Chances are that once handle formation is complete, price may breakout on the upside. Could be a good short term swing trade. Keep an eye!
Sunpharma Swing trade setup of pol and flag pattern.Sunpharma is forming pole and flag pattern and we get this pattern at trendline support , when we are entering at trendline support it can give us good risk to reward ratio,
we can enter as swing trade with today's bullish candle conformation.
SL of 745. for RR of 1:4 ,
analysis is for educational purpose only.. NSE:SUNPHARMA
Sun Pharma Short Term ReversalThe stock has failed to breakout the upper trend line and might undergo a correction. Trade is supported by Resistance and Upper Trendline.
Risk Reward Ratio - 1:1
SL is placed above all time high & the upper trendline. The target is placed near lower bollinger band.
Daily PSAR has also signaled a reversal.
Sun Pharma Short Term BreakoutThe stock has broken out and retested the upper trendline and found support. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 3:1
SL is placed below the support zone and the previously upper Trendline. The target is placed based on fundamentals.
SUNPHARMA LONG INTRADAY 18 AUG,2021Dear trader,
If u look at the chart of SUNPHARMA (analysis based intraday only) the SUNPHARMA Buy at 782 and Target at 794
Best Buy at 780.
Our Best Buy is based on high quality research and when the instrument reaches this level , it’s a jackpot trade.
Best Buy level might be executed or might not be executed.
The chart clearly indicates Bullish Trend you can also see the candle stick patters for more indepth analysis.
In Intraday most important thing is to enter and exit points.
Our signals are based on analytics, algorithms, mathematical derivatives.
Always be a responsible trader, kindly trade only when you have maximum opportunity in the market with minimum risk and with keynotes like data, analysis and proper strategies.
Kindly message us for strategies and analysis.
SUNPHARMA LONG INTRADAY 2 AUG,2021Dear trader,
If u look at the chart of SUNPHARMA (analysis based intraday only) the SUNPHARMA Buy at 770 and Target at 785
Best Buy at 768.
Our Best Buy is based on high quality research and when the instrument reaches this level , it’s a jackpot trade.
Best Buy level might be executed or might not be executed.
The chart clearly indicates Bullish Trend you can also see the candle stick patters for more indepth analysis.
In Intraday most important thing is to enter and exit points.
Our signals are based on analytics, algorithms, mathematical derivatives.
Always be a responsible trader, kindly trade only when you have maximum opportunity in the market with minimum risk and with keynotes like data, analysis and proper strategies.
Kindly message us for strategies and analysis.