20 year Channel breakout with high volumes for Cipla.. Next long term target should be 1300-1400. considering it is a manufacturer of covid drug Remdesivir, it should not take long to reach the taret. :)
NO SL required!!
Note: This is for educational purpose only.
There seems to be a pullback post breakout in CIPLA. Pullback was on back of lower volumes which indicates lower selling pressure. RSI above 60 indicates bullish momentum.
Price after breaking the triangle pattern reached the target and on the last trading session it just closed below the All time high levels, as the price is looking super bullish there is a big opportunity for a short time hike as seen in other pharma stocks.
If trades above ATH then go for scalping trade or go with tight stoploss. . .
Price is looking super...