Get started

Cipla

NSE CIPLA: Price Action AnalysisCipla has formed a downtrend channel for two months. Prices are moving below 200 EMA , which indicates a bearish atmosphere. We can see a downtrend channel on the 4-hou r timeframe chart. Currently, the price has taken support at the lower band of the parallel channel. It has made a range at 938. If the price sustains above 938 , It can touch the upper band of the parallel channel. Price will make a new low after the breakdown of the parallel channel with heavy supply pressure. I will Update further information.
NSE:CIPLA
by forextidings
1
Cipla forming a pattern on higher time frame.Cipla has been consolidating in a narrow range and is near a break out of trend line. The stock is forming a inverted head and shoulder pattern on higher time frame (4 hour). The moving averages are close and stock has been taking support from its 200 ema. Support :- 963, 941 Resistance :- 988, 1008 There can be a moving averages bullish cross over. Wait for the price action near the levels and enter the trade with confirmation. It can be a swing if a daily candle closes above the trend line.
NSE:CIPLA
by Mambotrade