imdbeststocktrader

CIPLA - INTERESTING - CAN YOU ANALYZE? Lesson 1

BSE:CIPLA   CIPLA LTD
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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.

Trade active: Are the clues 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:
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.

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

Comments

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
Reply
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.
Reply
Hi Sir,

According to me Price will hit 618 as Mr, Koryu suggested and then it will go low.
+1 Reply
Rajesh, Why do you think so?
Reply
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.
Reply
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.
Reply
If it breaks 544-534 level then it will fall down further, unless there is some positive news for cipla
Reply
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