CIPLA LTDLong
Positional Analysis for Cipla
The very first pattern you see on the chart is a flag pattern which has given a breakout (I usually wait for last kiss).
You can see a 38% fibo rejection at 873 levels which also acts as a support which previously acted as a resistance.
Lastly, you can see a breakout from the upper range of RSI i.e, 60 which can be another confirmation for an up move.
Sl could be the low of the breakout candle.
Target will be minimum 1:2
Note: this is my own analysis and not a buy or sell call, before taking any trade consult with your financial advisor.
Happy trading.
You can see a 38% fibo rejection at 873 levels which also acts as a support which previously acted as a resistance.
Lastly, you can see a breakout from the upper range of RSI i.e, 60 which can be another confirmation for an up move.
Sl could be the low of the breakout candle.
Target will be minimum 1:2
Note: this is my own analysis and not a buy or sell call, before taking any trade consult with your financial advisor.
Happy trading.
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