Balkrishna Industries & Cipla in my long term holding list.
For Positional Traders Cipla Buy At Cmp 770 Strict SL - 670 (Day Closing Basis) Target - 1050/1100/1150
And in posted chart this is short term swing trade - Buy cipla at cmp 770 with SL of 729 Target - 840/855/870
CIPLA after giving a strong upward nosedived to close at 755 ! It reversed from day’s high of Rs. 774.65 which was exactly its near term resistance level.
It gave Rs.10 from the closing low of selling divergence (blue) candle.
Indicator used TE REKAB, it captures reversals in the market.
This is my personal study & idea. Please take advice from your financial...
Cipla is in the completion of the 5th wave ( e wave ) of the greater degree wave C .
wave e always has five waves within .
Stoploss is marked in the chart,
play this by Options or by futures ...
My strong conviction for this trade
Posting here to have a demonstration of how we take trades based on Elliott wave principles.
For paid works your discussions and...
One can enter at CMP or above 815 or wait for 825 to enter for unstoppable upside move. RR could be anything from 1:3 to 1:10 with SL of 800 for entry between 815 to 818 and SL of 814 for entry above 825.
Enter above 825 with SL of 820 for the target of 835/850/870. Keep trailing SL on every 10 points.
Note: I am not a SEBI register...
Closing above 825 can leads to good up move
SMA As a SL(754 closing basis)
also 78.6% fibbo level is near 725
support zone is 725 to 695
bullish in all time frame
comfortably sitting above all important moving average
LUPIN has been forming a nice cup pattern (2times)
i am expecting the same for the third time
a buy will trigger on DCB above 1055
sl: below 1022 on DCB
1 st target: 1122 and trail after that
analyses shared only for educational purpose
Cipla was able to gain its 10 Aug 20 level in previous day session when nifty pharma was up by 2.5% . There still some space is left for pharma sector to cover on upper side. Considering this probability lets understand the cipla's possible moves.
1. Cipla is looking very good at this time and today if 815-820 hold we can see a rally towards 880, SL to be...