CIPLA has made rounding bottom pattern breakout.
Simple INTRADAY trade setup for 02-08-2021.
For buy trade --> Go long above 925. Targets are mentioned on the chart.
For Sell trade --> Go short below 910. Targets are mentioned on the chart.
My personal view is bullish on Cipla. It gave RSI Bullish divergence by forming higher lows in the RSI...
The chart, clearly shows Cipla forms an uneven "W" pattern and faces resistance on a higher level. So we can Keep an Eye for Selling.
Best Setup to Trade.
At the opening of the market right at 9:15, if CIPLA opens with the price of ( 934 - 930 ) we can place a trade on breaking of the previous day Low( 930).
Once it breaks we can put up a target of quick 4-5...