SUNPHARMA - Bullish Bat - Support of Channel - Long
Possible reversal zone (PRZ) - @ 380
Sunpharma has been on a down run since Jan end. Today it got retraced from channel bottom.
As the whole pharma sector is going down, tomorrow it may go down a little further.
Bullish Bat Harmonic Pattern is seen developing near the channel bottom and possible reversal from 380 can happen
The Target for positional trades would be 417 and ++
Intraday Target would be 395 . book half here and leave the rest to square off
Trade Plan
Scenario 1 - In the initial session - Script directly starts falling and touches 380 or falls more .. wait till it starts reversing and crosses 380. Buy at 381
Scenario 2 - If Script doesn't fall till 380 and starts retracing from 384 only .. wait till it crosses 389 . buy at 389
Scenario 3 - For Risky traders - buy on dips till 380
Happy Trading
MSK
Sunpharma has been on a down run since Jan end. Today it got retraced from channel bottom.
As the whole pharma sector is going down, tomorrow it may go down a little further.
Bullish Bat Harmonic Pattern is seen developing near the channel bottom and possible reversal from 380 can happen
The Target for positional trades would be 417 and ++
Intraday Target would be 395 . book half here and leave the rest to square off
Trade Plan
Scenario 1 - In the initial session - Script directly starts falling and touches 380 or falls more .. wait till it starts reversing and crosses 380. Buy at 381
Scenario 2 - If Script doesn't fall till 380 and starts retracing from 384 only .. wait till it crosses 389 . buy at 389
Scenario 3 - For Risky traders - buy on dips till 380
Happy Trading
MSK
Transaction en cours
Reversing from 380.7Note
carried forward the trade ... today again in green.. For yesterday - News over-ride technical analysis :)
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.