Cipla correction will be over by 31st of Jan

Jan 12

Cipla is in last leg of correction of expanding triangle, where it will complete wave e and so thus the Wave C of the Zig-zag at 1372-1371

Possibilities:

1) Cipla's correction will be over by 31st Jan if it completes leg e (1372-1371)

2) Chances are there might be wave e truncation and we will start seeing the trend change, which will be uptrend

3)wave e might slightly overthrow beyond the lower support of the triangle. (around 1365-1368 max to max)

All in all its a wait and watch situation for few more days how the wave e unfolds.


Disclaimer. I am not the SEBI registered member. This idea is only for educational purposes, if you want to take a trade do your own analysis and decide.

Jan 20

Trade active

Out of 3 Possibilities, 1 Possibility is down. Waiting for the confirmation so that we can drill down to the only 1 possibility of the remaining 2.