Sun Pharma - the gap between 50 n 200 EMAs is less than three rupees, 0.7%, we know how significant is this.
We can also see a trendline connection earlier tops, which may see a breakout as soon as on Monday (Jan 14th).
Buying above 448, with a stop loss of 436, for immediate targets of 464.
Traders using derivative tools, may use vertical bull spread, once it closes above 448.
Options OI are not supporting a long position at this stage, but this can be evaluated again.
I generally avoid suggesting trading using naked futures or options, strategies help in reducing risk but also empower positional traders to remain in a position for longer periods and grab bigger profits.
You may send me a direct message for any clarification, and low risk strategies to trade for short term gains.
Please consider liking this post, if you find it worthy, you may also "follow me" on this forum for periodic updates on indices and individual stocks.
We can also see a trendline connection earlier tops, which may see a breakout as soon as on Monday (Jan 14th).
Buying above 448, with a stop loss of 436, for immediate targets of 464.
Traders using derivative tools, may use vertical bull spread, once it closes above 448.
Options OI are not supporting a long position at this stage, but this can be evaluated again.
I generally avoid suggesting trading using naked futures or options, strategies help in reducing risk but also empower positional traders to remain in a position for longer periods and grab bigger profits.
You may send me a direct message for any clarification, and low risk strategies to trade for short term gains.
Please consider liking this post, if you find it worthy, you may also "follow me" on this forum for periodic updates on indices and individual stocks.