Cipla: Positional and Swing pick!!!
Method: Top-down approach
The uptrend on the monthly time frame,
Upside channel breakout on weekly time,
Symmetrical triangle pattern on the daily time frame
Enter if price closes above triangle pattern confirmed by good volume
Remember the rule: Trade what's happening...not what you think is gonna happen
Nifty moved from 9600 - 10280 in 5 sessions .i.e a total of 680 points captured by the index.
The global market sentiment stayed bullish. US markets remained so bullish that even the bankrupt companies are rallying !
Enough of the news, Let's now come to the analysis at hand -
Why watch IndusIndBK for bullish move on 8th Jun?