Balkrishna Industries & Cipla in my long term holding list.
For Positional Traders Cipla Buy At Cmp 770 Strict SL - 670 (Day Closing Basis) Target - 1050/1100/1150
And in posted chart this is short term swing trade - Buy cipla at cmp 770 with SL of 729 Target - 840/855/870
Aggressive traders : Buy now and exit at the upper support, later buy again after retest and trail till target.
Safe traders : Buy only after the retest from the above resistance zone.
Logic : It is in a triangle pattern with strong bullish momentum! Possible upside move will lead to a good risk reward ratio.
Cipla was able to gain its 10 Aug 20 level in previous day session when nifty pharma was up by 2.5% . There still some space is left for pharma sector to cover on upper side. Considering this probability lets understand the cipla's possible moves.
1. Cipla is looking very good at this time and today if 815-820 hold we can see a rally towards 880, SL to be...
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 cup and handle breakout. Add on dips 710-702 SL 680. Conservative target 745-53 (handle height). Aggressive target 800 (cup height).
Rsi negative Divergence so aggressive target is tough to reach. Result on 7th Aug.
Cipla in a breakout position, just before its earning day, we are currently trading near support of gap up we had in start of April. If it breaks 564 Cipla can touch 520 on downside or if it stays above 564 tgt 583.
One can trail stop loss using 20 day hull moving avg.