Cipla faces important resistance from negative RSI divergence.
Also from falling trendline and Bearish Shark pattern (pointed out by friend Dinesh Nagpal)
Risk reward in favour of correction, as long as it is below 650, with potential support at 490
Bullish RSI divergence confirmed in the pair ratio.
A similar formation was seen in Jul'19 - leading to a sharp rally in the pair.
From the current ratio of 0.750, the pair can revert towards 0.875
It has activated a Bullish C Clamp in hourly time frame suggesting the possibility of 725 for now provided it does not breach 699. In daily time frame it is attempting to take support inside the Kumo
