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Cipla

CIPLA - Probable Downfall in coming session(s) - POSITIONALCipla seems to have a bearish sentiment. Broken the Channel and the Monthly zones with good volume . Expecting it to fall further (a retracement to the red line is quite possible). Will be entering short basis candlestick pattern and if it shows rejection below the red line for a TGT of about 521-525. Entry would be mostly around 585 (near to the red line, if retracement is seen), SL above 603.5, TGT: 521-525. Disclaimer: These are just my views, I am only SHARING my views - kindly do NOT trade blindly with these levels, please do your own research before entering/ or as per advice from your own financial adviser. Note: All the values given are in CIPLA spot price chart. And also please note this is Positional analysis and is NOT for intraday This can be followed by a long entry later on after completion of a Harmonic Pattern , will be updated later if a good entry is seen THIS WAS PUBLISHED A WHILE AGO, BUT SEEMS NOT PUBLISHED IN REGIONAL WEBSITE OF TV, therefore again publishing the same idea.
NSE:CIPLAShort
by theTradingSailor
Cipla: Time to Book Some ProfitsWhat market doesn't like is high volume and it hates when it is immediately followed a clear sign of distribution. Its definite that smart money has taken advantage of the parabolic markup and they have started to sell at their favorite auction price. They trap the gullible retail trader at the top and drive the price down to the potential stop loss of the retail buyer and the process of accumulation and distribution repeats. The current surge in volume and price in this stock (after a 10% gap opening on 9th April 2020) can be considered as a full/partial profit taking opportunity rather than a buying opportunity at this point of time. Its better to wait for fresh buying in case of pullback. All the opinions are personal. Do like if it helps. Regards JJSingh
NSE:CIPLA
by Bravetotrade
6