Cipla- Cheap Medicines at 365-375

AbhishekHSinghCMT Updated   
Long Term Picture

From the lows of 145 in Oct2008 it travelled in an impulsive way to finish primary wave ((1)) at 753 highs in March2015. Next, I am looking for Primary wave-((1)) to retrace by 61.8%, which comes to 365-375 zone -likely will finish primary wave-((2)) - which could be the next possible scenario expected on a long term basis.

Biggest Opportunity of the decade
One of the biggest trade, which will arise in future can be in the zone 365-375- where the primary wave-((2)) ends-once confirmed, then primary wave ((3)) which should travel minimum 161.8% shall take Cipla to the zone 1350-1375 but that is a long journey & can test traders patience multiple times & shall make you even give up the trade- which market usually does best in non trending times.

Short Term Picture

A complex correction unfolding from 753 highs in the form of (W)-(X) & (Y) can lead Cipla to 365-375 zone.

In current scenario from the highs of 622 - likely to continue down if falls below 565 for next support zone 485-500 where B-Wave shall complete & retrace 80% of the impulsive rally from 457 to 618- Later we shall come back again once it goes into the expected zone of 485-500.

Trading Strategy
Short Term Strategy - We shall look for a fall below 565 or from the zone 600-610 once hits & starts falling back below 600 & sustains below for target 485-500.

Medium Term Strategy - We shall look for C-wave upside once the B - wave target is done in the zone 485-500 & holds the zone to give us confidence for higher upside move in C-Wave .

Long Term Strategy- We will plan to buy lots of Cipla in the zone 365-375 if we are lucky to get it in the zone of 365-375 as expected in the long term picture.

Happy Sunday!

Trade active: 17:53 Hrs 27th Feb2017

Last price@585

Trading opportunity arises next either going below 565 or going above 595 & holding above 595 for 615-625 zone as target & channel top.

Trade active: 18:22 Hrs 1st March2017

Last Price@586

Price went very close to 595 - made day's high@592-593 & slipped to 585 day's low.

We were looking for 595 mark to cross which it failed.

Trade active: 14:34 Hrs 14th March2017

Last Price@600

Cipla had a tough time for last 25-30 days -it was doing big consolidation- Likely Next it should move up first 615-625 & Above 625 for 645-655 zone.

Trade active: 09:51 Hrs 15th March2017

Last Price@605

We are in this trade of cipla after big consolidation for last 30 days likely it kisses 615-620 zone -kindly do not enter late in the call as your risk increases.
Trade active: 10:55 Hrs 15th March2017

Last Price@602

Closing this long call on temp basis & shall pick again, only above recent swing high of 606 -shall be staying out for a while.
Trade active: 19:41 Hrs 9th April2017

Last Price@590

Went in the zone 600-610 made recent high @604 & had a fall. Zone 600-610 looks good -going in the zone & falling below 600 is always weak sign for the stock.
Trade active: 22;45 Hrs 25th April2017

Last Price@551

Cipla Puked & Made a low@550

Almost 50 points down from 600 marks

Trade active: 11:32 Hrs 26th April2017

Last Price@546

Opened Gap down & broke 5 points below 550.

Trade active: 18:15 Hrs 24th May2017

Last Price@519

Below 545 -falls sharply. Next support at 485

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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