SUNPHARMA - Pullback in long term uptrend now complete

27. März 2023

• Consolidation below highs over. Turning back on the daily charts as well as weekly charts
  
• Bull trend on weekly charts started in 2020 - and the past 2 months were a longer term pull back in this bull trend
  
• Stop Loss - 950 which is the median of the level at which consolidation started
  
• Price Target - 1050 which was the previous high
  
  
• Low Risk / Higher Probability Trade - Sell 1000 - 950 put spread and collect theta. IV at 24% is decently high for this stock
  
• Higher Risk Trade - Buy 1000 - 1050 call spreads and close them when the stock gets to 1030 or so
  
  Disclaimer & imp rules
  * These are merely ideas and not a recommendation to take a trade
  * Trade small size & keep a wide stop loss (atleast 1.5 ATR). Dont fall into the trap of tight stop losses & big positions
  * Be patient when in the trade - the stock doesnt know you or care about your feelings.
  * Be ruthless with cutting trades that hit your stop
  * Be patient & wait for trades to come to you. Do not chase stocks - that only ends in disaster
  

6. Apr. 2023

Kommentar

Take 50% profit if not done so already - hold the rest for target of 1070 - previous high
Once at 1070 we will re evaluate

22. Apr. 2023

Trade geschlossen: Ziel wurde erreicht