Cadila Healthcare - Go long

1. In 15m time frame the DMA's need to correct. A bearish engulfing has appeared a while back.

2. In 60m Time frame 10 and 20 DMA have just taken the right positions and the prices are above pivot point

3. In daily time frame the DMA's might take a day or two to correct. SMA's also need to correct.

4. Monthly DMA's are in order

5. The prices are currently at an excellent support level. A breakout at this level has happened before

6. Prices have retraced back from the lower BB in the daily time frame.

6. Daily RSI levels have recovered. Weekly and monthly RSI both have made a higher low.

7. Entry 586.06
Target 596.28 (Rs 10.22)
Stop Loss :584.05 ( Rs 2.00)

8. Earnings are expected to be posted on the 5th of August. Watch for a rally in price accordingly.

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