CIPLA
MULTITIME FRAME ANALYSIS
1:- Price is at Daily Support.
2:- Price is following Downtrend line in 1 hour time frame (Counter Trend).
3:- After the breakout of counter trendline, Price will also break 50 EMA dynamic SNR.
ENTRY:- 890Rs - 900Rs
1st TARGET:- 940Rs
2nd TARGET:- 970Rs
3rd TARGET:- 1000Rs
STOPLOSS:- 840Rs
NOTE:- Close 50% trade at 1st target...
20 year Channel breakout with high volumes for Cipla.. Next long term target should be 1300-1400. considering it is a manufacturer of covid drug Remdesivir, it should not take long to reach the taret. :)
NO SL required!!
Price made raising wedge pattern which ends at the previous high to make a double top. Expecting the price to fall as per the pattern, if breaks the previous high then it is good for long.
Cipla has managed to close above a short term resistance and a long term resistance in the last 5 trading sessions. This is indicating a heavily bullish sign on Cipla. Cipla will close above 1000 in the next few trading session if the trend continues.
Sl and Targets are mentioned on the charts.
Sector is in flavor. Glenmark's charts looks good for a mid-term Trade...with volume confirmation.
Keep Qty medium, SL on WCB. Buy and hold.
Disclaimer: I am not SEBI CERTIFIED yet, I just share my views on possible setups and I usually also trade the setups I share here.
Last Trade Idea shared on TRADINGVIEW, ...
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
