SUNPHARMA
It have broken the trendline with good volume and also our level of 689 and hit our target 1 placed at 695. It closed at 694.
Trade Setup for 26-07-2021.
1) If it goes down till level of 691 let it go don't try to short it. If it gets support from 691 and trade above it then it will be easy to go long and all the targets are mentioned on the chart.
2) If it fails to hold the level of 691 then next support is at 689. If it gets support from 689 and trade above it then it will be easy to go long in trade. All the targets are mentioned on the Chart.
3) At this moment there is no short/sell trade opportunity in SUNPHARMA. It will only give opportunity for sell/short trade below 680 and then the fall will be till 670.
4) Don't chase if it open with gap up. Let it cool down for initial 15-20 minutes and judge the price action and only trade on levels.
Have a good weekend.
Comment if my ideas are helping you to understand price action and levels.
Do comment if you have any doubt.