double top pattern in cipla. looks good for downside.

Nov 27, 2019

we can see there is loss of momentum in cipla and rsi is giving bearish divergence. cmp is 468. once it closes below 460, it can go downtill 440 which is also the neckline of the double top chart formation and central pivot point of this month. below 440 it can further go down till 400-410.