afzal_57

CIPLA Positional Weak

Short
afzal_57 Premium Updated   
NSE:CIPLA   CIPLA LTD
Weekly is showing a halt in the continued DT. Price below 50 EMA .

The weekly zone is proving important in Daily. I am seeing 4 rejections. Yesterday price closed below the 50 EMA . We can see 6 back to back red bars, giving a nice bear picture.

In the 75 min, price broke the level of 467 on 6th Jan and is giving a nice pullback to test it with two wick rejections. Also, there is nice RSI Divergence to confirm the weakness. A good positional short opportunity with SL at weekly zones.
Trade closed: stop reached:
Stop loss got taken and then the price fell down to hit the target. Noise affected this trade.

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