CIPLA trade ideas
NSE:CIPLA Blasted and high chances to continue the momentum !! NSE:CIPLA
#NSE:CIPLA levels shared on 8th with levels marked, just done minimal retracement & CIPLA blasted with high volumes post BrekingOut key level,
Classic example of Pure Price action BO.
Felt happy by seeing all the traders profits, Kindly don’t forget to maintain Strict SL while entering this type of trades.
Attaching previous chart shared.
Happy LEarning.
Cipla Forming a Darvas Box Cipla is the third-largest pharma company in India (IQVIA March 2021), the third-largest in the private pharma market of South Africa (IQVIA March 2021), and the largest Indian exporter to emerging markets and also amongst the most dispensed generic players in the US. Cipla has a presence in branded and unbranded generic market franchises, with leadership positions in India, South Africa, priority territories in Emerging markets, Europe, and the US, across major therapies and products categories.
Pharma as a sector had shown some bullishness in the past week , IF the sector start performing Cipla can be considered, the sector has been in a bearish mode for the past couple of months
trade only on your Due Diligence
CIPLA -EW correction will be End soon..Hour chart for explaining more details in currently:
Educational purpose only : CIPLA making 5 or 7 wave Correction . It's mean WXY or (WXYXZ )pattern.
This correction happen in CIPLA higher degree wave (((3))) . Correction also within 0.382 Fibonacci levels..
..this technical point gives confirm this is a wave (((4))) correction.
Coming weeks CIPLA has complete wave Z or Retracement at 0.5 fib levels that's mean wave 2 formation. after market reach above 1000 point is CIPLA continue new rally ....for next 4 months......
Long Run takes minimum 20 day time ..
Coming 10 days market will be parallel channel OR . If market break this channel takes long term holdings