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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SUNPHARMA trade ideas
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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SUNPHARMA - 1HR - OUTLOOKThis equity is trading in a demand zone , obviously with a region of dynamic support .The 4-POINT pattern's fib ratios along with CORRECTIVE WAVE COUNT with a strong buyers candle will provide a bullish move as well to the level denoted.Neckline breakout will add more confirmation for defensive traders. cheers...
DISCLAIMER: This publish is just an outlook and purely meant for educational purpose.
This is not a financial advisory since trading involves huge risk,
so trade with proper money management and expert's advise..
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!