Sunpharma today for the 10th consecutive session has failed to sustain above 700. With a completion of the 5th wave at .618 of the fibo and multiple failed attempts Sunpharma is ready for a short. My view short for risky traders @CMP with a Sl of 720 and targets of either the support zone marked (trend and horizontal line) or you're appetite. Safe traders can short below 685 with SL 705-720 and same target zones.
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BOOM the downside move came as expected. Stoploss can now be trailed till 705 with the same targets still intact.
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Since I have not update my positions 50% has been booked and 660. One can now place a trailing stoploss at 698-700. I'll be booking 25% at 630 and the rest around 600.