CIPLA descending Triangle !!NSE:CIPLA
#CIPLA Descending triangle, levels marked on chart for practice.
Happy LEarning !!
CIPLA trade ideas
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.
RANGE BREAKOUT DONE, READY TO MOVE ?This is daily timeframe.
Cipla was in consolidation in long range for 8+ months.
Finally it gave range breakout and retested its resistance zone,
which is acting as a strong support now.
Selling volume decreased in last three days of last week's.
Today it gave rejection to downtrend and had formed bullish engulfing.
May be now it will give a good upmove.
Let's keep close watch.
This post is for information purpose only.
Cipla Share to take long entryExpecting a sharp recovery in Cipla stock. RSI in V form can be seen on daily charts & Re-test can be seen at support level on weekly candles. Good risk to reward ratio. Long entry can be taken above the level of 980 for the target price of 1070 with SL of 945. This is for your educational purpose only.
CIPLA LTD | LONG CONSOLIDATION BREAKOUT CIPLA LTD has been trying to break out the 1000 level but has finally given a beautiful breakout above the 1000 level.
The Target price according to the channel low is 1150 but I would suggest here to follow super trend lower band, as I believe that super trend performs well in trending chart patterns.
Buy Cipla if it gives a Fake BreakoutCipla was in a good sideways range and the broke above with momentum. Price then retraced towards the breakout area in a good consolidation and now broke below the consolidation. There is a good opportunity of a bullish trade if price gets back into the above consolidation, thus forming a fake break out.
I would suggest to enter only if 1 Day candle closes inside the prior consolidation (above 1016).
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.
