Sun Pharma : Moving Towards 725?

Sun Pharmaceuticals Ltd has, looking at monthly chart, been witnessing sideways movement in its stock price. The share price has gone more than half making low of 571.90 from its all time high of 1200.80 on NSE.

The stock, however, has been moving in the range of 610-730 after making its low of 571.90, making higher lows and lower highs, one of the characteristics of ending diagonal pattern.

Besides, the stock looks to be taking its support @623.60. The MACD oscillator, on daily time scale, has given positive histogram with MACD line crossing above the signal line. Any price move below 623.60 may be deterrent for the long side position, as the stock might start heading towards making its new low below 571.90.

Disclamer:

All views, charts, comments, post or any materials of any kind discussed, published, posted and/or commented are for educational purpose only and not meant to be an advice to trade nor does it or the publisher of it guarantee any sort of return or the correctness of the post or any materials.

Undertake proper research and advice of your investment consultant before taking any trade.

Trade at your own risk.

Twitter: @beta_trade

Nifty : Bulls & Bears, Who Rides On What?

"Nifty : Bulls & Bears, Who Rides On What?" Well, the discussion on this issue can be an endless. However, the importance and the very existence of both makes the market more reliable and provides an endless opportunities for both buyers and sellers. And I think there is no doubt about it and everyone agrees on it unanimously. Above is Nifty's chart on daily time scale, showing move from 6825.80 to 9450.65. I have tried to simplify and put forth my point of views as far as possible and also have put up some notes in chart as well. Below are some of my observations, that I would like to put forth the readers: (i) The move from 6825.80 to 8968.70 in Nifty looks to be a leading diagonal formation. A leading diagonal can be wave 1 of impusive run or wave A of corrective pattern A-B-C. (ii) The total fall in Nifty from 8968.70 to 7893.80 was 50% of its total rise from 6825.80 to 8968.70 in simple A-B-C formation. (iii) The rise in Nifty, from the...

Infosys: On The Eve Of Q4 Earnings

Dear Fellow Readers, The management of Infosys Ltd (INFY) is about to declare its Q4 earnings on 13th April, 2017. The stock has been under bearish mode since June 2016 after hitting its all time high price of 1279.30 per share. The movement in the stock of Infosys Ltd from the low of 66.10 made in September, 2001 to its all time high of 1279.30 was an impulsive run and the stock may witness correction in simple zigzag (A-B-C) pattern upto the level of 816.00, being the 38.20% retracement level of the total rise from 66.10 to 1279.30 level. The fall from its all time high price of 1279.30 to its low price of 901 per share, looks to be an impulsive run, whereby the stock has completed its first leg, i.e., 'A', of its simple zigzag corrective pattern. Besides, its seems that the stock of Infosys Ltd has completed its second leg, i.e., 'B', in a-b-c (901-1022, a -901.15, b - 1044, c) pattern, and looks to have started its last leg 'C' which might another im...

RPower: On The Eve Of Q4 Earnings

Reliace Power has just reversed after touching the supply line drawn in the chart connecting the two highs of 61.25 and 56.45. The stock of RPower, before breaching out of the supply line and start new bull rally, is trying to test the patience of the investor who have been invested in the stock since the Initial Public offerings or of those who might have invested in the stock on the higher price after the listing of the stock on Indian bourses. The stock may try to touch the upper resistance/supply line before it starts moving further down. Disclamer : All views, charts, comments, post or any materials of any kind discussed, published, posted and/or commented are for educational purpose only and not meant to be an advice to trade nor does it or the publisher of it guarantee any sort of return or the correctness of the post or any materials. Undertake proper research and advice of your investment consultant before taking any trade. Trade at your own risk....

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