niravpandya
Short

Making of a head and shoulders?

NSE:CIPLA   CIPLA
Looks like it has formed head and shoulders .Still it has not broke neckline.But it is very close to break it. Breakdown of neckline with considerable volume will confirm head and shoulders breakdown. Price target shown in chart.
Check the price pattern around 26-July, 17 Aug, 04 Sep - Another Head and Shoulders but it didn't break the neckline. Neckline for this stock is its actual support. Strong fundamentals in this stock. I am expecting it go beyond 640 before current month expiry. It will not go below 580.
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