Get started

Sunpharmaltd

SUNPHARMA-- At Key level??---->>clearly trending downwards from 1020 level. ------>> Now price is key level of support ,previous resistance acts as a support and price moved to upwards again. -------->> now price is again at the same level, now we have to see it will continue in the same direction of downtrend or it will change its direction from bearish to bullish. keep look at this level. -------->> we have clear demand zone placed at 900-910 level, if price breaks this key level it will test the demand zone.
NSE:SUNPHARMA
by IIT-Trader
Sunpharma Breakout of Contracting Triangle and Double BottomThe idea here is about Sun Pharmaceutical Industries Ltd: Sun Pharmaceutical Inds. Ltd is an international specialty pharma company.The company also makes active pharmaceutical ingredients. In branded markets, their products are prescribed in chronic therapy areas like cardiology, psychiatry, neurology, gastroenterology, diabetology and respiratory.The company is engaged in manufacturing of product in the following therapy areas:CNS disorders,Cardiology,Diabetes and Metabolic disorders,Gastroenterology,Ophthalmology ,Oncology,Pain,Allergy, Asthma and Inflammation and Gynecological. My view is bullish for the below observed technical factors. Points as per TA on a Weekly Chart: 1.Contracting or Symmetrical Triangle breakout on a weekly chart as per below: 2. Double Bottom Breakout on a weekly chart with huge volume as per below: 3. Bearish Deep Crab harmonic pattern CD leg in progress at the time of publishing as per below: 4. Trading way above 20 & 200 EMA on a weekly chart as per below: 5. Trading above 20 & 200 EMA on daily chart. 6. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a daily, weekly & monthly chart is Strong for an upward momentum at the time of publishing. Hence the trend is very strong. 7. RSI is at 62.43 on a weekly Chart and 70.09 on daily chart at the time of publishing. 8. MACD above signal line on weekly & daily chart. 9. Hull Moving average and other moving averages on a daily,weekly & monthly chart is a strong buy. 10. ADX (Average directional index ) trend strength is at 15.17 on a weekly and 23.25 on a daily chart which indicates a absent or weak trend (ADX between 0-25 is a Absent or weak trend) However, the trend seems to be picking up on upward momentum. Projected Target: provided in the chart as per double bottom & Bearish Deep Crab harmonic pattern. Stop Loss: Provided in the chart. Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”. Do you like my TA & ideas!! Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis. Do leave your valuable feedback & comments for any improvisations. Cheers.
NSE:SUNPHARMALong
by Tron029
9