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peace_lover

Sun Pharma has broken out of a Descending Rectangle pattern

Long
SUN PHARMACEUTICAL (NSE:SUNPHARMA)  
peace_lover Aggiornato   
NSE:SUNPHARMA   SUN PHARMACEUTICAL
Rectangle Volume Moving Averages breakouts trading test Trend Line Break chartpatterntrading
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  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

  2. SUPPORT-RESISTANCE LINE -
    After breaking out it has also tested the previous strong resistance trend line twice making it a strong support line now

  3. 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

  4. VOLUME -
    It has also shown higher than average volume surge on the previous day

  5. EXIT LEVELS -
    TP - 1095.15
    SL - 964.85

    ALL THESE ABOVE POINTS INDICATE THAT SUN PHARMA IS POISED FOR NICE UPWARD MOVE

Trade attivo:
Sun pharma is now very close to reaching its TP by going almost 100 points upwards. Putting a close tab on it...
Trade chiuso: obiettivo raggiunto:
It has reached the target, kindly close all your positions if you have taken trade based on this analysis
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