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NeeteshJain

SUNPHARMA BUY SETUP (RISING THREE METHOD PATTERN)

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SUN PHARMACEUTICAL INDUSTRIES (BSE:SUNPHARMA)  
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BSE:SUNPHARMA   SUN PHARMACEUTICAL INDUSTRIES
SUNPHARMA risingthreemethod Candlestick Analysis Trend Lines
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sunpharma risingthreemethod candlestick trendline
It is been observed on the daily chart that the price action firstly breaks above the downward trend line on daily chart indicating a strong bullish move. Then, it retraced back to the downward trend line with three candles hiding behind the big green candle. This is also indicative of the possible "Rising Three Method" formation. Overall, it is indicating a good buy setup at current levels.

Target1: 680

Target2: 700

Stoploss: 640

Trade shall be active once the price action goes above 662 levels.

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