Cipla - BullishStock now resting at previous support area
Which also happens to be a flip zone
Area can be read as 1550-60
Quite possible stock may take a break here before starting upward journey
Any close below 1545 will negate the view
If sustains stock may at least try to reach previous high of 1700
Risk reward is excellent, trade accordingly
Better to wait for at least 1 good candle in Hourly TF
Ciplastudy
Cipla Short Term TargetCipla taken Multiple support at previous resistance level of 1415 - 1420.
Morning star pattern observed near support, along with positive reversal in momentum.
Entry was today @ 1440 with a stop loss @ 1415 and a target of 1500, 1505, 1510.
Happy Trading,
Cheers,
Yamini Prabu
NISM Certified TA,
Independent Trader/Trainer.
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.
NSE:CIPLA Blasted and high chances to continue the momentum !! NSE:CIPLA
#NSE:CIPLA levels shared on 8th with levels marked, just done minimal retracement & CIPLA blasted with high volumes post BrekingOut key level,
Classic example of Pure Price action BO.
Felt happy by seeing all the traders profits, Kindly don’t forget to maintain Strict SL while entering this type of trades.
Attaching previous chart shared.
Happy LEarning.
Simple Trade Setup | CIPLA | 07-03-2022 [INTRADAY]NSE:CIPLA
Observations:
1) On 15min chart, we can see acending trianlge pattern.
Please refer below chart : 15min Time Frame.
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Trade Setup for 07-03-2022
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.
CiplaCipla, this stock has witnessed long consolidation in wave II and it closed below 50WEMA for a brief while, and also closed below good support level, and then stock has witnessed sharp pullback, fortunately, we can say that it was fake break down.
In terms of wave counts, the stock is in circle wave 3, within that it is further getting subdivided. wave II of 3 is possibly over and wave III of 3 may now unfold. One can go long at current levels or in dips (if any) with stop loss of recent swing low of 847.
fake break-down and again pull back seen
all the key levels are mentioned on chart
weekly wave structure looking good
macd in daily positive and uptick
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
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.
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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.
Swing Setup EXPLANATION : This is a 4 hour time frame chart of CIPLA . It has been in a consolidate for days and has formed an Ascending Triangle Pattern . If give a strong breakout and broke its supply zone with high volumes and retest the same , I am bullish on CIPLA . Demand zone marked in chart we Plan to short below this zone price closing .
If you like this analysis of Stock give a Thumbs up // Like , let me know in comments below :)
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.
CIPLACipla,
this stock tested weekly lower bollinger band and bounced back sharply recently, also positive crossover has done in the weekly oscillator stochastic indicator.
the wave structure suggests that it is in a larger degree wave 3 which is getting subdivided.
within wave 3, the stock has completed wave I and II and it is currently in wave III of 3, as wave III unfolds , the stock can posiibly rise higher towards 1120.
one can go long at these levels or in dips ( if any ) with stoploss of last swing low 886.
Wave structure
key levels are mentioned on chart
weekly stochastic turned positive
weekly rsi uptick near 60
bollinger and price action in weekly
bollinger and price action in daily
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing