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Bullish Breakout in SunPharma
SUN PHARMACEUTICAL IND L
Pembelian
Bullish Breakout in SunPharma
Oleh pradipandsuvra
Ikuti
Ikuti
23 Jan
0
23 Jan
Amid today's 333 points Nifty Selloff, the only Nifty stock gave a bullish engulfing breakout is
SUNPHARMA
.
Multi timeframe analysis gives various aspect to be bullish for at least 1:1 Risk-to-Reward target:
In W chart, it's a clear breakout of a rounding bottom patten created over last 8 years (since 2015).
During this course it breaks out convincingly the last all-time-high of 1200 around 2015 Q1.
In D chart, it is trading in a nice up trend channel. Today's candle near-beakout of the upward channel's upper band.
Very high volume in Daily chart
And today's candle is an overwhelmingly convincing Bullish engulf patten.
Trade: BUY above 1405 for a 1500+ target. Keep a SL of 1310 (closing basis).
indianstockmarket
Parallel Channel
stocktowatchfor
sunpharmaanalysis
Trend Analysis
Volume
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