Sun Pharma ready for firing on upside 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 our SL if trailing SL hit exit from long trade and initiate sell trade ,
SUNPHARMA trade ideas
Sun Pharma Looking Weak, Watch Closely 🐻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.
MyPOV @ Sun PharmaI 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 Head and Shoulder (Mark on Chart).
I know there is many if and else in this scenario to play, I am waiting to break Recent Swing Low (980)for put trade for Target 945 and defiantly change the view at 945 level and switch to find buying at that level.
For educational purposes only. Not financial advice. Consult a professional before making financial decisions. #Disclaimer
#NiVYAMi
SUNPHARMANSE: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 loss, Shared for Educational purpose
SUNPHARMANSE: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 loss, Shared for Educational purpose
Sun Pharma has broken out of a Descending Rectangle pattern
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 reversal confirmation from 50D, 100D & 200D SMA on daily chart which further strengthens the conviction of upside move
VOLUME -
It has also shown higher than average volume surge on the previous day
EXIT LEVELS -
TP - 1095.15
SL - 964.85
ALL THESE ABOVE POINTS INDICATE THAT SUN PHARMA IS POISED FOR NICE UPWARD MOVE
Correction about to completeHello,
Sun Pharmaceutical Industries Ltd. engages in manufacturing, developing, and marketing of pharmaceuticals products. It offers tablets, capsules, injectable, inhalers, ointments, creams, and liquids. The company was founded by Dilip Shantilal Shanghvi in 1983 and is headquartered in Mumbai, India
Below are a few metrics we looked at
Market cap: 2.37trillion Indian rupees
EPS: 17.55INR
Revenues: 2021(386.54B INR)
Net revenues: 2021 (32.73B INR)
Total assets: 2021 (713.81B)
Total labilities: 2021 (203.15B)
Free cashflow : 76.26B
Wait for the correction to complete before buying
Good luck!!
Sunpharma_DailyLooks good.
Sun Pharmaceutical Industries Limited is an Indian multinational pharmaceutical company headquartered in Mumbai, that manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients in more than 100 countries across the globe.
Only for educational purposes.