NeeteshJain

Cipla - Burst Downside

Short
NSE:CIPLA   CIPLA LTD
It is been observed that the price action formed a big symmetrical triangle on hourly chart. Now the price action breaks and closes below the symmetrical triangle trendlines , indicating a confirmation on further bearishness ahead.

Target 1: 563 (next support levels)
Target 2: 550 (As per triangle measurements)

Stoploss: 590
Trade active
Trade closed: target reached: Target reached Successfully, Regards
Trade closed: target reached: Target 2 at 550 levels achieved