Sun Pharma has broken out of a Descending Rectangle pattern

23 giu 2023

1. * RECTANGLE PATTERN -
   Sun Pharma has just broken out a descending rectangle pattern on the daily chart which had been forming since the beginning of the year
   
   *SUPPORT-RESISTANCE LINE -
   After breaking out it has also tested the previous strong resistance trend line twice making it a strong support line now
   
   * SIMPLE MOVING AVERAGE -
   It has also shown reversal confirmation from 50D, 100D & 200D SMA on daily chart which further strengthens the conviction of upside move
   
   *VOLUME -
   It has also shown higher than average volume surge on the previous day
   
   *EXIT LEVELS - TP - 1095.15
   SL - 964.85
   
   ALL THESE ABOVE POINTS INDICATE THAT SUN PHARMA IS POISED FOR NICE UPWARD MOVE

17 lug 2023

Trade attivo

Sun pharma is now very close to reaching its TP by going almost 100 points upwards. Putting a close tab on it...

21 lug 2023

Trade chiuso: obiettivo raggiunto

It has reached the target, kindly close all your positions if you have taken trade based on this analysis