earning result @ 14/5/21
* symmetrical triangle
* momentum increasing
* range bound between previous resistance & support
buy @ above 910
sell @ below 870
NOTE - (have to sustain at least for 15-30 min)
My fav symmetrical triangle breakout ... upper trendline been tested many times and is clean meaning no gap ups above the line and coming down back into the zone of triangle .... a closing above the line on 15m or u can watch for a good risk at 5 min too depends on your RR ratio and RM system. Take the trade as per
Happy trading :)
After an implusive move the stock has pulled back and is taking a support at fibonacci retracement level of 38.20% and 50ema, and stochasticRSI is crossing over. A break above the descending trendline will be a good buy opportunity for swing trade.
CIPLA daily demand zone trade setup marked on charts. Hope price will test that zone again and fill pending orders(only possible if still buy orders are pending on this zone) this time and price will bounce back again.
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!!
