After three years of consolidation Cipla has broken out of a cup and handle pattern. Sustaining the previous breakout it has also broken out of flag pattern on daily chart. My view is Cipla can be bought at CMP with a SL of 637 (daily closing basis) for a short term target of 720 . Long-Term targets are 800/840. Risk to Reward of 1:6
CIPLA break the trend keep watch that finds the confirmation candle then enter your trade
Disclaimer:
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if...
the view is formed by studying various parameteres and thus i am holding a strong bullish view in the counter which may take it to the levels of even LT H in oming couple of days !
1) CNX Pharma on verge of breaking 1 year trendline
2) Making higher highs andhigher lows since jun 6
3) currency depreciation and new launches in usa market will give support to bottomline
