CIPLA - Probable Downfall in coming session(s) - POSITIONAL
Cipla seems to have a bearish sentiment. Broken the Channel and the Monthly zones with good volume . Expecting it to fall further (a retracement to the red line is quite possible). Will be entering short basis candlestick pattern and if it shows rejection below the red line for a TGT of about 521-525.
Entry would be mostly around 585 (near to the red line, if retracement is seen), SL above 603.5, TGT: 521-525.
Disclaimer: These are just my views, I am only SHARING my views - kindly do NOT trade blindly with these levels, please do your own research before entering/ or as per advice from your own financial adviser.
Note: All the values given are in CIPLA spot price chart. And also please note this is Positional analysis and is NOT for intraday
This can be followed by a long entry later on after completion of a Harmonic Pattern , will be updated later if a good entry is seen
THIS WAS PUBLISHED A WHILE AGO, BUT SEEMS NOT PUBLISHED IN REGIONAL WEBSITE OF TV, therefore again publishing the same idea.
Entry would be mostly around 585 (near to the red line, if retracement is seen), SL above 603.5, TGT: 521-525.
Disclaimer: These are just my views, I am only SHARING my views - kindly do NOT trade blindly with these levels, please do your own research before entering/ or as per advice from your own financial adviser.
Note: All the values given are in CIPLA spot price chart. And also please note this is Positional analysis and is NOT for intraday
This can be followed by a long entry later on after completion of a Harmonic Pattern , will be updated later if a good entry is seen
THIS WAS PUBLISHED A WHILE AGO, BUT SEEMS NOT PUBLISHED IN REGIONAL WEBSITE OF TV, therefore again publishing the same idea.
Trade active:
Shorted (futures), at 578 spot price. SL presently 590 (may change later depending on the candle pattern) for a TGT of 525
Entry was published earlier, but is not updated in the regional version.
Entry was published earlier, but is not updated in the regional version.
Comment:
One more lot shorted while spot at 580
Trade closed: stop reached:
Exited trade. Will be re-entering on closing basis, if a bearish sentiment is seen.