SUNPHARMA : The 12-Month Compression Setup

After correcting 20%+ from ₹1,958 ATH, SUNPHARMA has spent 12 MONTHS building a base around ₹1,629. Classic descending triangle forming at apex.

🔍 Technical Snapshot:

🔺 Resistance: ₹1,700 (trendline + psychological)
🔻 Support: ₹1,629 (tested 5x, holding firm)
📈 RSI: 59 ( bullish, room to 70)
📉 Pattern: Descending triangle - lower highs meeting higher lows

What I'm Watching:

1️⃣ Trendline resistance at ₹1,700 (declining from ATH)
2️⃣ Each test of ₹1,629 support absorbed with higher lows
3️⃣ RSI sitting neutral - no momentum extreme yet
4️⃣ Volume declining during consolidation = Energy coiling
5️⃣ Breakout & retest of the trendline will be the perfect confirmed setup

Risk/Reward from ₹1,679:

- Upside to ₹1,970 = +15%
- Beyond ₹1,700 = ₹1,800-1,970 in play

The longer the consolidation, the bigger the eventual move 👀

Not advice - just what the chart shows.

Breakout Scenarios:
- Above ₹1,700 with volume → ₹1,750-1,800 targets (+4-7%)
- Below ₹1,629 breakdown → ₹1,580-1,550 risk (-3-8%)

The Setup: 6 months of compression between declining resistance and flat support = Spring loading.

The longer the base, the bigger the eventual move ⚡

Next 2-4 weeks critical. Watching for volume confirmation on direction. 🔥

⚠️ Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. Please, do your due diligence before investing. (#DYOR)⚠️

💬 Share your thoughts in the comments below! ✌️

🔥 Trade Safe! ✅ 🚀