TRADE SETUP – SUNPHARMA

Dear All,

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.

Nifty Pharma Daily Chart
Sun Pharma Daily Chart

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”

Bearish Butterfly Pattern

2. CANDLESTICK PATTERN – MORNING STAR DOJI

Morning Star Doji

Sid

Disclaimer

Above Views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk and willing to accept them in order to invest in the markets. Don't trade with the money you can't afford to lose. This page is neither a solicitation nor an offer to acquire/sell any script. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication for future returns.

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