It was an amazing last 2 weeks in markets. Nifty went up and then down and then started showing some strength upwards.
So, My 1st pick is Pharma Sector. Last week nifty pharma has moved 2.5%. There is a Positive Divergence also on daily charts.Price action suggests that positive move can continue.Though the bigger trend is still down, so it will be a contra buy here and in the sector, My 1st pick is “SUN PHARMA”.
Below are the Charts for pharma sector as well as Sun Pharma.
Sun Pharma also making Bearish Butterfly Pattern.The last leg CD has been started.
Sunpharma is a buy above 524, add more around 515 with SL 502 for possible Target of 545-565-590
Learning here –
1.” BEARISH BUTTERFLY PATTERN”
2. CANDLESTICK PATTERN – MORNING STAR DOJI
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