SUNPHARMA DAILYConfluence of MULTIPLE HIGHER TF Bearish Sharks + BAT STRONG POTENTIAL REVERSAL ZONES
Vertical Dotted line is Ultra high volume up bar trap of Smart Money , Higher volume- Professionals are selling into the public buying
Within 3-5 price bars need the confirmation from a BEARISH CANDLE
SET UP BECOMES VALID ONLY when RSI is below 70 and IF Price breaks ULTRA HIGH VOLUME Candle LOW & with LOW VOLUMES & with NO DEMAND l.e place for short
POTENTIAL SELL
SUNPHARMA trade ideas
Sunpharma Intraday levels 08th MarchThings to be Kept in mind :
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>> Take this trade only if Nifty is red in its pre-opening session
>> Take this trade only if Sunpharma opens equal to or lesser than previous day close.
>> Maintain strict stoploss as per risk appetite.
>>Trade under professional supervision.
Sun Pharma - 705 TargetPrice has taken support over 585 to 595 level, ABCD pattern has been predicted which gets complete at next resistance level that comes around 690 to 705 level.
Target should be, 690 and 705 with stop loss of 595.
Recently announced dividend that causes this pressure of selling, it has reduced the delivery volume by 2%.
Duration of the trade should be 1 Month