Sunpharma is continously in uptrend and had given a breakout after a good consolidation. Stock has tested its resistance and got a bounce back from that zone. Here is the reason why we can take a entry here:-
1.RSI is above 60 in both weekly and daily chart, which shows strong momentum.
2.Stock is out performing both NIFTY and PHARMA index.
3.Price taking support from EMA as well as previous resistance, shows an uptrend.
Entry- Above 827
SL- Below 780
1st Target- 865
1.RSI is above 60 in both weekly and daily chart, which shows strong momentum.
2.Stock is out performing both NIFTY and PHARMA index.
3.Price taking support from EMA as well as previous resistance, shows an uptrend.
Entry- Above 827
SL- Below 780
1st Target- 865