When compared to the regular market we have a very soft corner for pharma sector.

ADD ON: Sun Pharmaceutical Industries began with just 5 products to treat psychiatry ailments in 1983. Sales were initially limited to 2 states – West Bengal and Bihar. Sales were rolled out nationally in 1985. Products that are used in cardiology were introduced in 1987, and Monotrate, one of the first products launched at that time has since become one of our largest selling products.

Important products in Cardiology were then added; several of these were introduced for the first time in India. Sun Pharma was listed on the main stock exchanges in India in 1994.

India is going to remain one of the biggest drug manufacturing countries in foreseeable future.

Apart from that in a chart, the signal movement was quite familiar to me.

In 4hr timescale, at 448.60 the market got a throwback to reverse the trend from down.

Candles formed a correction to stabilize the movement and a potential impulse broke down the trend.

Then it moved as a sharp pointed arrow and hoisting a flag correction at the top.

Usually, the market forms flag correction to gain potential for a jump.

So I'm expecting another impulse from the correction point.
The jump may up-to 605.20

Or else end the trade at the next low point 552.25
therefore it won't be a loss for you.

Eyes on the chart.



Order: BUY

Entry: 567.15

Take profit: 605.20

Stop loss: 552.25

Risk Vs Reward: 2.55

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