SUNPHARMA - AT RESISTANCEStock showed a good rally with good volume, currently resisting at falling gap resistance + Fib .50 , and the resistance is backed by the RSI, hence seems like stock is in a make or break situation.
Current structure of the stock suggests it will go for a dip til 380 levels.
I am gonna use the lower time frame to time the trade.
Risk reward ratio also looks favorable.
Stop loss 510
Target 380
Don't follow blindly, do your research please.
SUNPHARMA trade ideas
Buying Climax :- SunpharmaAs can be seen , Sunpharma is forming a perfect Climax Buying picture. A climatic price is perfectly backed by the rising volume that too near its resistance.
Price trading near its crucial resistance of 481 levels. For the better confirmation we will wait for the negative candle . Assume fall till 430 -420 levels in the coming sessions .
Above analysis is purely for an educational purpose.
SunpharmacySun Pharmaceutical Industries' key products/revenue segments include Pharmaceuticals which contributed Rs 9783.29 crore to sales value (94.95 percent of total sales) and Other Operating Revenue which contributed Rs 519.92 crore to sales value (5.04 percent of total sales)for the year ending March 31, 2019. It is going bullish with a stop loss of 390 rs and takes profit at 450 rs.