head and shoulder formation in cipla cipla have formed a very good head and shoulder parttern lets hope we can short sell it tomorrow, one thing you should keep in your mind is this parttern is formed on daily timeframe meaning that it well more powerfull and effective but if it goes up then you should wait few hours or days one thing i know is this partern is definetly going to ork keep your keep eyes on cilpa
Ciplashort
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.
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.
Cipla trading in a narrow range.Cipla has been trading in a range from 22/03/22.
The volume seems to drop and the range is a accumulation zone.
On daily time frame, the price is around its 20 ema look for the break out and once the levels are broken the stock can give a good move on either side.
Support :- 1005,987
Resistance :- 1045, 1068
The stock can be added for a swing trade and intraday traders enter once an hourly candle closes out of the range.
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.
Simple Trade Setup | CIPLA | 25-10-2021 [ INTRADAY]NSE:CIPLA
Observations:
1) On daily time, it close just above 200DMA.
Generally 200DMA works as major support.
If it gets support from 200DMA then we can see good bounce from this level.
It closed between two critical level which were working as major support in past.
Level 900 which was recent previous major support.
Level 880 is critical major support. If it goes down from CMP and gets support from 880 then on breakout of 900 level will be good safe buy for positional trade.
Please refer below chart : 1day Time Frame.
-------------------------------------
Trade Setup for Date 25-10-2021:
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.
Simple Trade Setup | CIPLA | 15-09-2021NSE:CIPLA
Trade Setup for Date 15-09-2021:
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.
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.
CIPLA: Head and Shoulders breakdown. CIPLA had formed what seems like a head and shoulders pattern, from which it broke down from on 27-07-21. After breaking down from the pattern and range it fell from around 945 level to the 875 level. Since then it has pulled back quite neatly to the bottom of the range and has then created a huge continuation bar to the downside with above average bearish volumes.
_______________________________________________________________________________________________________________________________________________________
One could take a short positional trade keeping in mind the following levels, do only initiate the trade if the price stays below the "SHORT BELOW" level for at least 15 minutes.
SHORT BELOW: 909
STOP LOSS: 939
TARGET 1: 879
TARGET 2: 849
_______________________________________________________________________________________________________________________________________________________
Plan your trade and manage risk properly.
Like and follow for more. :)
Simple Trade Setup | CIPLA | 08-09-2021NSE:CIPLA
Observations:
1)On 15time frame, it has been consolidating in between 946-956 level range since 06-09-2021.
Breakout on either side will give good move.
Please refer below chart : 15 time frame.
-------------------------------------
Trade Setup for Date 08-09-2021:
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.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Please be noted that stock might not reach the ultimate level or it might also go further than the ultimate level. One can book profit or SL as per their own strategy.
CIPLA | ROUNDING BOTTOM PATTERN | SIMPLE INTRADAY TRADE SETUP NSE:CIPLA
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 chart, while candle chart was making lower lows.
Do comment if you have doubt or suggestion.