Cipla - BullishStock now resting at previous support area
Which also happens to be a flip zone
Area can be read as 1550-60
Quite possible stock may take a break here before starting upward journey
Any close below 1545 will negate the view
If sustains stock may at least try to reach previous high of 1700
Risk reward is excellent, trade accordingly
Better to wait for at least 1 good candle in Hourly TF
Ciplalevels
CIPLA BULLISH VIEWCIPLA
Now is the right time to invest in cipla
Cipla is ready to break out the resistance trend line
Volumes are also good
my first target@1540
Second target@1660
Stop loss@1317
Disclaimer:
I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
Happy trading.
Cipla Ltd. engages in the manufacture and distribution of healthcare products and bulk drugs. It operates through the following segments: Pharmaceuticals and New Ventures. The Pharmaceuticals segment develops, manufactures, sells and distributes generic or branded generic medicines as well as active pharmaceutical ingredients. The New Ventures segment includes the operations of the two wholly owned subsidiaries, Cipla Health Ltd., a consumer healthcare company and Cipla BioTec Pvt. Ltd, which is into the business of Biosimilars. The company was founded by Khwaja Abdul Hamied in 1935 and is headquartered in Mumbai, India.
so please keep CIPLA in your watchlist for long term investment.
If yoU like my view, do support it with a boost witch is valuable inspiration for me to post ideas like this in future. thank you friends!
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.
Simple Trade Setup | CIPLA | 07-03-2022 [INTRADAY]NSE:CIPLA
Observations:
1) On 15min chart, we can see acending trianlge pattern.
Please refer below chart : 15min Time Frame.
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Trade Setup for 07-03-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Simple Trade Setup | CIPLA | 26-10-2021 [ INTRADAY]NSE:CIPLA
All the levels and most of the trade setup still remains the same as per previous.
Trade Setup for Date 26-10-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.