Cipla - Pullback TradingNote: This is for educational purpose only.
There seems to be a pullback post breakout in CIPLA. Pullback was on back of lower volumes which indicates lower selling pressure. RSI above 60 indicates bullish momentum.
CIPLA trade ideas
Head and Shoulder Pattern in CIPLA for target of 802-After continues uptrend in CIPLA in today's session its breakout the head and shoulder pattern neckline. Also, It's trading below 200 DEMA in the 15-minute timeframe. Its indicates trend reversal up to projected minimum downside target 802. Possible this target achieve in today or tomorrow session.
Possible Trade:
Sell CIPLA below 820
Stop-loss - 824.50
Target 810 802-
Impending H&S pattern in Cipla!A head & shoulder pattern is being formed in Cipla that too near it's resistance zone, thus the possibility of a reversal is on the cards. Once the pattern is completed, one can go short below the neckline and can expect 806 and even 795 levels in the coming days.
CIPLA BREAKOUT Cipla is at a very crucial level and retested the resistance as well
if Cipla break its all-time high = 839 you can enter and get your target as 1:2
SL will be the previous low as per price action theory = 817
Cipla seems bullish for today..Considering the volatility, prefer options for day trading nowdays. This recommendation is only for 29th dec.
Chart Of the Week * Rectangle Pattern Breakout in both Daily & weekly chart.
*Trading above previous Life time high.
*Pharma Sector is in bull Run.
*Breakout in Relative Strength.
CIPLA buy signal at 831 , at its major resistanceI will look at buying CIPLA because :
It is at the resistance and that resistance may act as support .
If it does not break resistance look at shorting
Entry : 830
Target : 945
Stop loss : 793
(Positional) Long CIPLATrade Setup: Stock has broken all time high with volume and can be traded on long side.
Buy Zone: 820-835
SL: 700, Weekly Closing Basis
Target1=870, Target2= Open with trailing Stops
CIPLA
Imp:
1. Trading requires more than technical analysis . e.g. Risk Management, trade management, psychology etc.
2. Always follow stop loss.
3. Once a trade is in your direction (say) 3%, never let it go in a loss.
4. Simply follow rules. Nothing else..
Cipla Buy for 56% upsideDate 26 Dec 2020
Cipla (CMP: 833.20)
Cipla has made a flag pattern on a weekly basis. The stock can show an upside surge in the next 1 year giving a return of 56%.
Target Price: 1,300.
Target duration: October 2021
Parallel channel in CIPLA - Chances for breakoutChances are high to give breakout. So good to go long . Wait for breakout from channel .
Breakouts: Traders could buy a stock when its price breaks above the upper channel line of an ascending channel . It is prudent to use other technical indicators to confirm the breakout. For example, traders could require that a significant increase in volume accompanies the breakout and that there is no overhead resistance on higher time frame charts
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
CIPLA, SERIOUS CANDIDATE FOR LONG WITH DUAL CONFIRMATIONCIPLA is looking really good for long above 835 with 810-815 as support zone with 880+ as target in coming days/week.
CIPLA is breakout of DARVAS box and monthly TL running since Oct'1999 will show resistance around 885 zone.
Similarly Fibonacci extension target of 1.27 is also around same zone of 882-883.
Monthly chart
CIPLA is very high probable setup in coming days.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. If you check all previous charts, you will understand how beautiful price action trading is and how one can become independent trader by following some simple rules.
Reach out if you wish to learn powerful technical analysis based on simple price action.
Thanks
Piyush Gupta
Learn & Earn
Cipla - Long Term Investment PickBalkrishna Industries & Cipla in my long term holding list.
For Positional Traders Cipla Buy At Cmp 770 Strict SL - 670 (Day Closing Basis) Target - 1050/1100/1150
And in posted chart this is short term swing trade - Buy cipla at cmp 770 with SL of 729 Target - 840/855/870
CIPLA - Long IdeaCIPLA - Strong close in Weekly/Daily & Hourly basis with strong supporting volume
Trade accordingly with strict sl on clbs
CIPLAThe stock seems to be in love with box pattern.
Since the fall in March, the stock has made 3 rectangles and has broken out of those rectangles followed by multiple successful retests.
Expecting something similar.
Add on dips.
The stock has formed medium term base around 700.
CMP: 833
Target: 893, 925, 950, 997
