joel-vg

detailed price action study on sun pharma

Éducation
NSE:SUNPHARMA   SUN PHARMACEUTICAL
This is a daily chart of sun pharma

As you can see on daily chart , sun pharma is on a down trend in Daily chart which is obvious

A successful daily close above 485 may change the trend on daily chart , till that time , it is still on a downtrend

Here the rectangular box is called the fair value area & the price usually gets attracted to this rectangle and the price rotates between the high & low of this rectangle

Any break of rectangle - we call it excess or tail based on the pattern

Here if we are going to take a trade - the trade will be
Buy @ current levels
Sl - 368
Target 1 - 425
Target 2 - 450

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