Cipla seems to have a bearish sentiment. Broken the Channel and the Monthly zones with good volume . Expecting it to fall further (a retracement to the red line is quite possible). Will be entering short basis candlestick pattern and if it shows rejection below the red line for a TGT of about 521-525.
Entry would be mostly around 585 (near to the red line, if...
We are seeing MTP BD in W with overall DT.
D is breaking a strong ST multiple times with momentum candles, again a nice DT.
Can look to enter using the 75m when it makes a pullup to EMA or D RT. Need to look at price action when it makes a pull up before taking entry.
Weekly is showing a halt in the continued DT. Price below 50 EMA.
The weekly zone is proving important in Daily. I am seeing 4 rejections. Yesterday price closed below the 50 EMA. We can see 6 back to back red bars, giving a nice bear picture.
In the 75 min, price broke the level of 467 on 6th Jan and is giving a nice pullback to test it with two wick...
Key Levels for CIPLA are : t.me - JOIN TELEGRAM CHANNEL
Upper Breakout~ 465.45
First Target~ 468.50
Final Resistance~ 476.50
First Target~ 457.70
Please trade with caution and consult your financial adviser before trading. You...
CIPLA has been trading in a range for almost 5 years now ( Look at the chart)
But, now I think we might see a new trend- Potentially a bear one.
The problem with most traders is they think "indicators are everything" which is simply not true.
A fancy cluttered chart with 10 indicators doesn't mean accuracy at all.
I think you can trade with just basic tools, you...