Trading_hawk

Simple Trade Setup | CIPLA | 05-08-2021

Long
NSE:CIPLA   CIPLA LTD
NSE:CIPLA

Chart and levels are easy to understand trade setup for 05-08-2021.

Do comment your doubt or suggestion.

My personal view is bullish on CIPLA.

Comments

Cipla results are good but on 6th aug it has opened in Gapdown and break dowm 910 support .
Reply
Trading_hawk swathikonakanchi
@swathikonakanchi,
Yes. If it trades below 910 then it will be good opportunity to short it. And easy target will be 900.
Let's see how price action works in coming days.
Reply
cipla hit 947 and came down it didnot sustain
Reply
Can i buy for swing purpose will the targets be same as mentioned please guide
Reply
Trading_hawk kanishkg5
@kanishkg5,
Yes. But be careful as today is result for CIPLA so keep SL
Reply
hi sir . stock is bearish now . will this be continue or any chance for bullish reversal ?
Reply
Trading_hawk nandha027
@nandha027,
Below 890 level it will become more bearish. Because on Daily time frame it has already broke 100DMA. And trading below it. However it is still above 200DMA. There can be the chance of reversal if it holds the level of 895 and gets support from it.
Reply
it's in upper trend . previously it took support @ 100 / 200 DMA as support and reversal may happen .. am i right ?
Reply
Trading_hawk nandha027
@nandha027, my personal view is yes. Reversal may happen.

but our trade depends on levels and price action.
Reply