Sunpharma - Formation of 5-0 Pattern - Long OpportunitySunpharma - Formation of 5-0 Pattern
Looking for minimum targets of 38.2& & 50 %
Bullish divergence not seen yet, so looking for retest of the lows.
RSI is in oversold territory.
SUNPHARMA trade ideas
NSE:SUNPHARMA Sell For 15 Nov 2018 NSE:SUNPHARMA sell initiate for 15 Nov 2018 using 1 hour chart based on Fibonacci levels,
check below Sell level :
Sell Below : 514.85
Stop Loss : 529.8
Target : 498.8
Sun is shining......Sun Pharma gave a break out and indicate now buy on dips for a probable target indicated in the chart.
SUNPHARMA WAVE ANALYSIS (NIFTY)SUNPHARMA has been forming a triangle and at present it is in the last or the 5th leg of the triangle. Even in the 5th leg of the triangle it formed a triangle of a shorter degree which has just now completed, now if price breaks the orange trendline just below price we can get get a very good shorting setup with good momentum but if price breaks the blue trendline to the right and continue to move upward then chart will unfold into a complex correction. For more updates stay tuned.
AUROPHARMA - DAILY - BEARISH CYPHERMarket Analysis
In the DAILY timeframe a BEARISH CYPHER is formed ..so we can enter SHORT for 0.382 / 0.618 retracement
Sun pharma is consolidating within Strong Bullish Candle rangeSun pharma is consolidating within range of Strong Bullish Candle formed on 22-July -2018. Close above ( 582 ) or below (547 ) this range may decide further Trend .
Double Bottom Reversal pattern confirmation above weekly close Double Bottom Reversal pattern confirmation above weekly close of 610.
SunPharmaOnce a star. Fallen from grace. Now tings are changing. Above 200 DMA. Resistance line is drawn. That is around 600 Call strike where bears have taken huge position. It may take some time. Like Cipla, when 600 will be taken out, it will be a big breakout. By then 50 will cross 100 DMA. These two parameters (200 DMA and 50 crossing 100) are common features of pharma majors at present.
SunPharma5th wave up is done. I gave the level of 600 for 5th and price came upto 592 in a flash trade and retraced. Now ideally a-b-c correction/consolidation is possible. Mood is upbeat.
SunPharma, EWavesPharma stocks are changing. If this wave count is correct, then 5 is heading towards 600 where resistance may be faced.
SunPharma, 200 DMAHow 200 DMA decides the fate of a stock and its prevailing future trend is more than explicit in this example. 100 and 50 DMAs work in support of 200 DMA. In this case, price tried a number of times to raise head above 200 DMA yet it could not hold the head for more than a few days. This is a significant lesson for successful trading and investment. At the same time it is simple. Once cannot invest in such stocks. For trading the strategy is: 'Sell on rise'. Rise to what? 200 DMA of course. By following this strategy, Sun Phrma has created more than 10 very successful and highly profitable trades during this slide. One can select 20 or 30 such stocks to study in each section -- Uptrend and Downtrend. So one remains in profitable trades almost every trading session. I shall also cover one stock in Uptrend to drive home the basics.
Sun pharma- Beautiful Corrections due..Disclaimer.. not an investing/trading recommendation
not invested, tracking fundamentals
