SUNPHARMA ready for breakout
Basic observation:
a. Between 2020 and now Sun Pharma has grown 131%. The last time it showed such considerable growth was between 2013 and 2014 where it grew by 166%.
b. Post having a falling trendline for 59 months (-74.15%) it has been within a rising channel for over 16 months (108%).
c. RSI and KST currently showing positive signs
d. Prices have been consolidating for for 56 days.
e. The price has currently surpassed the 46 days resistance
f. In daily time frame, 10 and 20 DMA have cut above 50 DMA and positive movement has begun. DMA's in order when used in Monthly and Weekly time frame too.
g. Currently Trading at 703.40
Entry @ 703.80
Target @709.45
Stoploss @ 701.94 (-1.86)
Risk to Reward Ratio @ 3.03
a. Between 2020 and now Sun Pharma has grown 131%. The last time it showed such considerable growth was between 2013 and 2014 where it grew by 166%.
b. Post having a falling trendline for 59 months (-74.15%) it has been within a rising channel for over 16 months (108%).
c. RSI and KST currently showing positive signs
d. Prices have been consolidating for for 56 days.
e. The price has currently surpassed the 46 days resistance
f. In daily time frame, 10 and 20 DMA have cut above 50 DMA and positive movement has begun. DMA's in order when used in Monthly and Weekly time frame too.
g. Currently Trading at 703.40
Entry @ 703.80
Target @709.45
Stoploss @ 701.94 (-1.86)
Risk to Reward Ratio @ 3.03
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