After a long rally, major consolidation happened in this stock. Now tested at higher prices but volume is not impressive to enter into stock so, no reason to buy for new buyers(they will wait for proper correction) unless any good news for pharma or stock the price struggles to move further. My view is neutral to short. It breaks the support and again raising to...
Today saw a sharp first-half selloff followed by a 50% recovery in the PM session. Could this be the first hint of the beginning of a short covering by the bears? Either way, Nifty and Banknifty, along with large caps, might be at good levels for accumulation. What's your view?
Cipla weekly chart shows price is at a crucial point just standing on the 200DEMA line.
Stock has been in the range of 873-1006, which currently is at the bottom of the range.
Crucial to hold 200DEMA to move up, if breakdown then may move towards the lower range marked in the chart.
*Only for educational purposes, not a buy/sell recommendation.
1. Pharma at Support level
2. Covid Resistance
3. PE/ROCE is less than 2 (.65)
4. receieved max no of approvals n last 3 years
5. near mean volume price
6. MACD going up toward + RSI is picking up
Target open 30% upside from now
CIPLA has been on upwards bullish trend channel, recently it hit the key support trend line and bounced off sharply. I except CIPLA to test the channel upper trend line , with short target of 1070-1080 in next 5-6 weeks. If it breaks above the upper trend line for 2-3 consecutive days, expect a major breakout. But so far it has been in the channel for last 18 months.
The stock has broken out with good volumes and retested, so it may undergo a rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 3:1
SL is placed below support zone & the previously upper & lower trendline. The target is placed based on fundamentals.
A GOOD UPTREND IN ONE DAY CHART!!
AND A GOOD CONSOLIDATION IS BEING FORMED FROM AUGUST!!
Wait for breakout of consolidation!
If it breaks the resistance level that is 988 then wait for any short retest and can have a small target!!
And if it breaks the uptrend support line then do not buy as the stock can retest and go for...
The stock has broken down from the previous pattern but found support around 875. Trade is supported by brokerage calls and Supports Nearby including 200 EMA.
Risk Reward Ratio - 2:1
SL is placed below the support zone, Lower Trendline and 200 EMA. The target is placed near swing high.
Ready For Breakout We can see the level of 940 easy
Note *This is only for information and educational purpose. Please consult your financial advisor before investing.
Investing has its risk and require professional advise, please do consult advisor before investing.
The stock has reached lower trend line and took support and is ready for a reversal rally. Trade is supported by brokerage calls and swing low, major supports & 200 EMA before SL levels. Target is placed with a risk reward ratio of 1:1.