We are seeing MTP BD in W with overall DT.
D is breaking a strong ST multiple times with momentum candles, again a nice DT.
Can look to enter using the 75m when it makes a pullup to EMA or D RT. Need to look at price action when it makes a pull up before taking entry.
1. Cipla is trading at Strong Support zone.
2. +ve divergence on both Weekly an Daily chart
3. Elliot on daily also showing upward movement from CMP
4. SL can be Strong Support Low
Follow me witter @shubhamjain1499 | View | Comment
Cipla Monthly Chart, 408 - 365 earlier accumulation zone of 2013. Currently tradingin same range. If it suistain this level of 365, then target of 500 and 800 can be seen. If it breaks this level of 365 further more down side around 275 can be seen. Strict SL of 365 or 375 to be followed.
BUY CIPLA ONCE IT BREAKS OUT OF THE TRIANGLE.
THE TARGET: 58 POINTS ABOVE THE BREAKOUT PRICE STRICT STOPLOSS : COMES AGAIN IN THE TRIANGLE ZONE.
TRY THE ABOVE TRADE TILL THERE IS A BREAK DOWN FROM THE TRIANGLE (IF IT HAPPENS)
Weekly is showing a halt in the continued DT. Price below 50 EMA.
The weekly zone is proving important in Daily. I am seeing 4 rejections. Yesterday price closed below the 50 EMA. We can see 6 back to back red bars, giving a nice bear picture.
In the 75 min, price broke the level of 467 on 6th Jan and is giving a nice pullback to test it with two wick...
Cipla may move to the given target levels. Weekly Indicators are moving slowly from bearish to bullish side. Risk traders can buy at this level. Safe trader can enter above 490 on closing basis.