Darvas Box formed in a Pharma Stock (Swing setup for 5 to 6%)Cipla, the price is trading below the long-term group of ema's also we have a bearish cross of ema bands. The degree and nature of separation of both bands indicates price consolidation on these levels. So, we use Darvas Box to trade the instrument.
Short Trade Setup
The breakdown of 1145 will open the lower levels of 1080 which is about 5%
Also we have a confirmation from ema bands.
Long Trade Setup
The breakout of 1200 will open the levels of 1270 which is about 6%
But we need a confirmation from ema bands to trade the uptrend.
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Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is only for educational purposes.
Thanks
Er. Simranjit Singh Virdi
