SUNPHARMA – Bullish above 822, SL 747

[Abirami Duraisamy]

The analysis is done based on the sequences mentioned in the chart

Seq 1: Engulfing is seen after the bearish trend with high volume on engulfing. Trade Plan: Direction – Bullish, Position -Long, Entry at 823, SL: 747, Target: 899.

Seq 2: Engulfing is seen after bullish trend with increase in volume on previous day of engulfing. Trade Plan: Direction- Bearish, Position: Short, Entry at 925, SL: 890, Target: 855.

Seq 3: Engulfing is seen after bullish trend with increase in volume on previous days of engulfing. Trade Plan: Direction – Bearish, Position Short, Entry at 900, SL: 940, Target:860. Detailed trend of Seq 3 is shown in chart 2.

[V.VEDANAYAGAM]

DEAR SIR /MADAM
Seq 2 and Seq 3 Trade plans are unviable due the trigger of respective stop losses
Kindly view the chart attached

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