1. Surfacing above the cloud.
2. Chikou, the lagging span about to get free
3. RSI support @ 40-45 levels
4. Stock about to move in blue sky zone
Buy with stop loss of lower cloud boundary @ 730
Target of 900 in next 5-6 months.
Material only for educational purposes, assess your risk and enter financial positions.
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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 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...
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...
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...