Balkrishna Industries & Cipla in my long term holding list.
For Positional Traders Cipla Buy At Cmp 770 Strict SL - 670 (Day Closing Basis) Target - 1050/1100/1150
And in posted chart this is short term swing trade - Buy cipla at cmp 770 with SL of 729 Target - 840/855/870
The stock is likely to emulate the rally that happened by taking support ₹565 post confirming a run-away gap in early April. After forming a fresh gap-up last week, the stock holds on to it and the scrip is in a position to establish another leg of uptrend and form fresh all-time highs.
CIPLA has been trading in a zone for the past 42 days.
This might continue for some more days,but a big move is expected whenever is breakouts or breakdowns from this zone.
Will trade with 1:3 RR NSE:CIPLA
More chances of breakout are there as CNX Pharma is bullish and it might reach 10k levels soon.
Keep a look out on pharma stocks especially :
Cipla in a breakout position, just before its earning day, we are currently trading near support of gap up we had in start of April. If it breaks 564 Cipla can touch 520 on downside or if it stays above 564 tgt 583.
One can trail stop loss using 20 day hull moving avg.
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,...