Cipla on the breakout zone , closing above 456 on the weekly basis will give a buy opportunity till then its a sell as all over its in long term downtrend .
Stay cautious while taking long.
#stayinside #besafe
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Weekly is showing a halt in the continued DT. Price below 50 EMA.
The weekly zone is proving important in Daily. I am seeing 4 rejections. Yesterday price closed below the 50 EMA. We can see 6 back to back red bars, giving a nice bear picture.
In the 75 min, price broke the level of 467 on 6th Jan and is giving a nice pullback to test it with two wick...
BUY CIPLA ONCE IT BREAKS OUT OF THE TRIANGLE.
THE TARGET: 58 POINTS ABOVE THE BREAKOUT PRICE STRICT STOPLOSS : COMES AGAIN IN THE TRIANGLE ZONE.
TRY THE ABOVE TRADE TILL THERE IS A BREAK DOWN FROM THE TRIANGLE (IF IT HAPPENS)
Cipla may move to the given target levels. Weekly Indicators are moving slowly from bearish to bullish side. Risk traders can buy at this level. Safe trader can enter above 490 on closing basis.
Vijayaraghavan,
Chennai
