SUNPHARMA TRIANGLE 30M

15 Dis 2020

SUNPHARMA is forming a triangle pattern in 30M timeframe. It could a good trade intraday as well as positional. Although in triangle pattern the price tends to give both breakouts and breakdowns. But in this case SUNPHARMA is creating lower lows which means the stock is in a bullish mode. We can trade both breakouts and breakdowns in intraday when price crosses the high of breakout candle( in case of long position ) or when price crosses the low of breakdown candle(int case of short position). SL will be the nearest swing low. Happy Trading!