The current Price action structure suggesting that the stock is might be moving towards its recent highs near 980- 1000 levels.
The said Probability will be valid as long as the stock is trading above 958 levels.
One can go long with Stop-loss of 955
All the key levels are mentioned in chart with Stop-loss and Targets
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
#CIPLA/INR TA update:-
₹CIPLA looking bullish as per chart.
Broke-out Resistance level and now testing support level.
I can expect 8-10% from here.
Entry:- ₹660-₹670
Target:- ₹1054
SL:- ₹655
Looking Good to Buy
All the key levels are mentioned in chart with Stop-loss and Targets
Daily RSI
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
The weekend is a good time to scroll through the charts to find some gems for the coming week and for the coming month.
Cipla is one such stock that came on my radar this week, stock had seen a good move from 738 levels to 966 levels, comprising about 35% return in just 4 -5 weeks.
After seeing a remarkable rally, stock decided to correct, and I as a buyer could...
price made decent breakout of the range ( 820 - 830 ) big resistance and candle also made good close above the range
Range breakout 820 - 830
Buy : 815 - 830
Stop : 724
Target : 880 , 950 , 1000
CMP 820 (JAN EXPIRY) TGT 870/910 SL 772
#It is near all time high 829.
# short term moving average is above medium to long term average.
#Pharma sector is outperforming in last few months.
#DMI indicator turns bullish on the daily chart.
#RSI and MACD also indicates strength on daily and weekly chart.
Cipla is looking very bullish around these levels. Breakout with good volume. The target of 2 pivot points can be taken.
The risk to reward ratio of 1: 1.75.
A strong volume in cash market of CIPLA and technical breakout at 758 level will show a strong quick jump to 790+ in prices.
Looking good for long. Stop loss will be 740.
CIPLA is on strong uptrend from past couple of days, however currently at strong trend-line resistance.
Incase if gap-up opening above resistance ans sustains, go for clear long.
Incase if pharma sector is -ve in next trading session, we can consider for shorting opportunity.
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