"CIPLA - CLUE IN RSI ?" by trader imdbeststocktrader — published 2016-09-28

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CIPLA LTD (BSE:CIPLA)

BSE:CIPLA CIPLA LTD

Look at RSI . Let me know what do you understand.

RSI is even more bearish than previous counterpart. Seller volume too is higher. If it fails to bounce back from 568, then it heading towards 532 or even lower.
Please comment on my view. Thanks

gameofmoneys

Hi Gameofmoneys,

I agree with your view and I have a similar view.

Please see my view below.:-

Price and RSI trend line broken.

Selling Volume is high

Price went down considerable however it went back up on 30.09.2016. Possibly short trades of many traders at around 569-570 must have hit

Price expected to go down further.

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