CIPLA trade ideas
CIPLA 15MINCIPLA made a upward channel earlier then made a head and shoulder pattern which I already posted here and short sell target was achieved. Currently CIPLA is ready to make a reversal for the upside but making a downward trend, breaking of downside channel with a volume upside can give a long position for this green lines are for buy and red lines are for short sell.
Bullish after a retracementStock seems to be bouncing back from a support zone...next high formed will be as give in the image...this is my speculation..for the last 3 quarter stock seems to be performing well...and it have a good pitrosky score... Karnataka gov is pushing cipla to produce more remidisiver( they couldn't make the promised delivery) so they will try their best to increase the production...which can increase the profitability of the company... fundamentally... technically...stocks seems to in a good buying zone now
CIPLA : LONG -INTRADAY (Support and Resistance) 17-05-2021CIPLA just reached back from its strong resistance level. Currently, it is at its support level. It tried to break the support level but, failed.
LONG it and the target will be till resistance. Stop Loss is mentioned in the chart.
If it breaks down the support level, SHORT it and target will the next support level.
DISCLAIMER: This is a technical analysis. Market News can affect this analysis. Do your own research before trading.
Cipla Triangular pattern at 38% fib level- ready for breakout?Higher time frame analysis was posted on May 10 2021- There I had mentioned "W" pattern formed at 38% fib. So based on that and current behavior of price action I feel like the stock is about to give a breakout. This is not a signal to buy but a stock to watch out for coming days.
Moving down to 15 min time frame it is giving a triangular pattern (which is a breakout pattern). Enter into a long position if 906.75 is broken.
Cipla for solid returns 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 take advantage of this correction to grab this stock at attractive levels for participating in the new up leg, that may take stock to 1000 and 1100 levels, and that rally is most likely to come, considering the previous strong price action.
The near-term support is at 855-845 levels, that I am expecting the prices would hold and also bounce from it.
The daily chart also provides good support around 870 and chances are there that stock might reverse from here, hence buying can be done at two trenches.
Trade type: Positional
: Pullback Trade
: Support Buying
If you are trading this, you are trading at your own risk, please do your own research as well.
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