Will Sun-Rise Again?

Hello Traders,

In my previous post on SunPharma I presented a bearish view.

It didn't go as per expectations but gave a bearish engulfing much later at 591. Those who shorted there must be sitting in profit at present.

The stock has been observed to be bouncing inside an uptrend channel. I expect it would once again take support at 560-565 levels and bounce back to the upper trend line to hit 600-610 level.

To trade watch for bullish setup (closing basis) at/near support area and go long; with a stop below the support area.

Hit like/comment if you think this analysis can be useful.
Trade safe.

Best Regards
Bravetotrade

تعليق:

Nice 9 point bounce from support.

تعليق:

take some profit so that it can be a free/no loss trade.

تعليق:

we are in the middle. 563 to 580 and now 600

تعليق:

Since we booked partial @ 580 its a free trade now. My stop for the rest is at breakeven @ 567

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