No doubt Cipla stock is in uptrend & long entry is advised to be taken in these kind of stocks. But here as per technical anlaysis stock can move as per the wave drawn on the charts. So in upcoming session try to short the cipla near the level of 773 or below 760 for the target price of 740 as small correction and gap filling expected to be completed with the SL of 783. In case gap down opening of the stock then do not chase.After this wave we can take the long entry as shown. Will update here . So add the stock in your watch list to see the price action movement.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask.
Watch the free trading ideas performance sheet for the month of July-2020
drive.google.com/file/d/1_PKz2Sq...
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask.
Watch the free trading ideas performance sheet for the month of July-2020
drive.google.com/file/d/1_PKz2Sq...
Trade active:
Today touch 775 level given 773 Sell call