Volatility getting less at the end of the correction which shows correction almost complete.
Made double bottom, tested support and gave good bounce and now expecting a breakout. Buy above 731.5 (Intraday). Please do your analysis. Before trading..
CIPLA is Looking strong Above 700 as a Positional Trade for the target of 750-780-800-820
Stock in good uptrend. Continuation of trend expected after correction is over.
Cipla has broken a multiyear resistance. cmp 782 sl 700 target 990.
Breaking the trend line today sustaining above it will move big AGM also today
All details are in chart! Educational Purpose Only
The sector (pharma sector) as a whole is in a consolidation. A breakout can give a huge up/down trend. Look into other pharma stocks to verify statements. Beware : Please keep in mind and stay away from False Breakout Traps. Also this is not any recommendation, it is only for educational purpose. Trade at your own risk. Thank you Have a Nice day!!
Jyothy Labs is in a strong uptrend and is continuing its move. Recently it has tested its previous resistance which is now working as a support and now given the breakout of a down trendline so we can ride this trend with strick stoploss.
It's pretty clear in the charts, Have a look.
Cipla is waiting for a break. But if it gives a Buy signal Be very Cautious !! Manage your risk & put a proper Stoploss! Because as we can see cipla may try to fill the gap and buying side may be risky! In case, of a selling side Try exiting with a quick profit don't wait for high targets!!
The stock is likely to emulate the rally that happened by taking support ₹565 post confirming a run-away gap in early April. After forming a fresh gap-up last week, the stock holds on to it and the scrip is in a position to establish another leg of uptrend and form fresh all-time highs.
Cipla shot up despite horrible earnings figure. I reckon there is time for some correction here! Positional Sell below 755.6 for 750, 745, 740 with SL at 765