imdbeststocktrader

CIPLA - INTERESTING - CAN YOU ANALYZE? Lesson 1

BSE:CIPLA   CIPLA LTD.
559 27 13
Cipla Daily Chart is interesting. Can you Analyze and predict what may happen?

Clue lies on the left of the chart. Look at the Left. Previous setup gives an indication of what is going to happen however that does not mean that what has happened in past will repeat again. I want you guys to analyze and predict. This will enhance your skills and will give you confidence. Don't worry about right or wrong just analyze. For broder view refer to monthy and weekly charts as well

I have an idea of what is going to happen however if I disclose that then there will be no point in carring out this activity. I will definately let you know my views after few days.

Common guys, lets break this setup and see what is the out come. Pro Traders comments will really help newbies. I request pro traders to give your veiws.

FYI,
Orange lines are Monthly Support and Resistance (S/R) Lines
Blue lines are Weekly S/R. lines
Green Lines are Daily S/R Lines

Please feel free to ask questions and request you to click on like if you feel this activity will you or other traders.
Trade active: Hi Guys,
I missed on adding volume. I have added volume in the below chart.

CIPLA - WITH VOLUME
Trade active: Are the clues in RSI ?

CIPLA - CLUE IN RSI ?
Comment: Hats Off to you guys for your awesome response and your valuable views. Thank you and keep sharing your insight till we close this activity.
Trade active: First target 563
Trade active:
CIPLA - Short
Trade active: Price is in a range as analysed in my last analysis of Cipla.

I hope you are now understanding how the market moves. This activity is very important in understanding how the price moves. when to expect sideways movement, when to expect up and down move.

Price is in a range as analysed in my last analysis of Cipla
Trade closed manually: Hi All,

My Final comments on this activity. As mentioned in one of my previous ideas that the price will range and will fall further. This is what happened, Market was in range and then fell futher. You can go throgugh the ideas placed in this thread to undertand how the market moved for Cipla and what were the indications. This will help you understand the moves of market and will help in analysing other setups

FYI
Cipla's Q2 results are on November 09. Market will react accordingly on 10th November 2016
Hey, I see: rsi bearish divergence within a rising wedge (both bearish). I expect horizontal support to resistance at 618. So I think this going down and test the support levels. Without seeing the volume its hard to guess how low. I also dont know about the fundamentals.
+1 Reply
@koryu .. Sharp analysis.. Your expert view will help lot of traders. Thanks for highlighting that volume was not added. I have added volume in the chart. Your view is really appreciated.
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Hi Sir,

According to me Price will hit 618 as Mr, Koryu suggested and then it will go low.
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Rajesh, Why do you think so?
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Price will move sideways till it hits the trendline and then will move uptowards 636. After 636 there will be a retracement
+2 Reply
Vicky, What is the basis of your ananlysis
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Nice Activity imdbeststocktrader. This will help us a lot
+1 Reply
Thank you Vicky. I want you guys to start reading charts only then you will be able to predict the movement of the market. Also you have to work on fundamentals as well.
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We will get lot of differnet views and insight if all the traders contribute
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We already go few different views. It seems my activity is working.
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Nice thing started by you Sir. This will help all of us. We will have to use our brains to crack this activity
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Yes Rajesh. I want you guys to learn, use your brains, understand the setups, look at the charts from differnt angels and predict the correct out come
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My another obersvation after looking at the volume. the volume is bearish. RSI diverange is bearish. MACD shows overbought. There is a monthly resistance area. Market will reach that level Sir and will go down.
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Nice obersvation Rajesh, you are learning quickly. Think harder. :)
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Vicky, Sorry I don't agree with your view.
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vickymadhav Rajesh_P
That is Ok Rajesh, we are here to learn. Our views may differ. I am loving this activity. I am very eager to see what will be the out come. However more indepth analysis is required.
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Rajesh_P vickymadhav
Yes Vicky Sir more indepth view is required
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In simple terms, previous support became resistance. The level got tested and price is getting rejected, kind of a pin bar formation. This should test the weekly support.
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LSubramani You thought process is very clear. Your analysis is good. You may be right as well. However, Support and resistance can be broken. It depends on the sentiments of the traders. I want you to think deeper.

I have updated the idea. Please let me know what do you understand by looking at RSI.

Please share this idea with your fellow traders let them get involved. Let them also take benefit of understanding and analysing a setup.
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My view is if Cipla manages to go above 618 then its buy on decline on any strong level for the target of 640.
If it does not breach 618 and fall down, then 560-570 is a good level to buy for targets of 1:2, 1:3 or more. May be 640 as well. But that depends on the market dynamics at that time.
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Hi Rishi,

I agree with your analysis. See you found a potential trade for your self. This is what I want you guys to find potential setups and trade. I am very happy top see that. Also what are your views on trend line drawn on RSI.

Rishi I would really appreciate if you can involve other fellow traders so they can take advantage of this actvity find potential trade setups like you.
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There will be a formation of cup and handle pattern. After cup and handle breackout it will fire like rocket
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Hi LoveBird, I really like your username. Nice one :)

Cup and handel pattern. Interesting. Cup and handel pattern is an continuation pattern of an uptrend. Volume palys an important role in cup and handel pattern. Even I didn't think off this pattern. Yes there is a potential of that setup. However I am not convinced. Let other traders decide.

What do you think guys?

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Hi,
5 waves have moved up, top of channel, ready for corrective move (retracement)
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Good Observation Vicky Madhav
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Cipla seems to be in down trend and there is no support till 530-510 with RSI in overbought levels. So I feel it will fall till 530-510.
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If it breaks 544-534 level then it will fall down further, unless there is some positive news for cipla
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