The chart, clearly shows Cipla forms an uneven "W" pattern and faces resistance on a higher level. So we can Keep an Eye for Selling.
Best Setup to Trade.
At the opening of the market right at 9:15, if CIPLA opens with the price of ( 934 - 930 ) we can place a trade on breaking of the previous day Low( 930).
Once it breaks we can put up a target of quick 4-5...
marked support point.
marked resistance level.
wait for price to touch resistance level.
confirm whether the breakout is FAKE or REAL.
according to thattake long or short position.
1. Cipla is taking support near the resistance turned support zone
2. Entry levels for both long and short are mentioned in the chart
3. Target and stop loss as per your risk appetite
To motivate me, give a like and show your support. Thank you!
Please stay safe. Happy Trading!
i hope you guys enjoy all my ideas and i hope you all learn and earn money form it
note : when you buy or short any of the script so please consult to your financial advisor and
all the levels are on the charts dont jump the levels so plz if you want to enter at our price so enter only at our levels
Buy Above 888 - Next target is 901 (Daily Resistance)
* Purple - Monthly Resistance/Support
* Orange - Weekly Resistance/Support
* Maroon - Daily Resistance/Support
1. Right night price is at Strong Support Zone - Price is getting rejected at this level and you can expect a possible up move
2. First time it came near this support so chances are high it will...
23-May-21
Pro's
Looks Strong, and has broken out above the 52w all time high (ATH)
Sustaining above 881 has high potential for 1087 & 1240. Time Frame 6-12 weeks
Cons:
F&O Stock, likely slow mover
Cipla is forming a pole and flag pattern, with the price action during the last two months. A breakout from the upper end of the flag can be traded for a small target of the 52 Week high at 966 and second target with the fibonacci pivot if the trader feels comfortable. The SL can be set at 900.
Note: Please do not follow my idea blindly, analyze yourself as well....
NSE:CIPLA has shown the bullish trend, with key target levels mentioned in the chart above.
Disclaimer:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This...
- Price near 44 MA
- 44MA rising
- Buying Opportunity
with confidence
Note: I am just trader like you, not god or any registered stock advisor.
So I request before taking any position according to my view discuss with
your financial planner or take on own responsibility.
Thanks
#CIPLA #LONG #BUY #INTRADAY
