With no major announcements on the cards in near future, this is a pure technical play with no event driven price action. Accumulation has been going on in Cipla for a long time now, and finally today it showed strength even as the price pushed upward of ₹550 and soon the intraday action was captured by HFT players which is why the ₹3 down...
Sell Cipla on rise with a SL of 544 and targets of 529.3/ 527.1. Adjust your trading volumes as per the entry price.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible...
Stock trading in an up-sloping channel from past 6 months.
Currently halting at channel support
Formed long bearish candle with huge volume at channel support , signalling bear's exhaustion.
And is followed by a spinning candle with good volume.
There is a Fibonacci cluster near 512-510 levels.
RSI is turning flat.
Stock can bounce -back from these...