Cipla forming a pattern on higher time frame.
Cipla has been consolidating in a narrow range and is near a break out of trend line.
The stock is forming a inverted head and shoulder pattern on higher time frame (4 hour).
The moving averages are close and stock has been taking support from its 200 ema.
Support :- 963, 941
Resistance :- 988, 1008
There can be a moving averages bullish cross over.
Wait for the price action near the levels and enter the trade with confirmation.
It can be a swing if a daily candle closes above the trend line.
The stock is forming a inverted head and shoulder pattern on higher time frame (4 hour).
The moving averages are close and stock has been taking support from its 200 ema.
Support :- 963, 941
Resistance :- 988, 1008
There can be a moving averages bullish cross over.
Wait for the price action near the levels and enter the trade with confirmation.
It can be a swing if a daily candle closes above the trend line.
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