CIPLA trade ideas
CiplaCipla, this stock has witnessed long consolidation in wave II and it closed below 50WEMA for a brief while, and also closed below good support level, and then stock has witnessed sharp pullback, fortunately, we can say that it was fake break down.
In terms of wave counts, the stock is in circle wave 3, within that it is further getting subdivided. wave II of 3 is possibly over and wave III of 3 may now unfold. One can go long at current levels or in dips (if any) with stop loss of recent swing low of 847.
fake break-down and again pull back seen
all the key levels are mentioned on chart
weekly wave structure looking good
macd in daily positive and uptick
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CIPLA to reach 924 - Short then LongAs we can see in the above chart, CIPLA is rising for the past few weeks, and it might be up to the Daily Supply Zone. It will come down, and even though the Demand Zone is of 75 Minutes, it has the support of the 20 EMA also, which makes sure that the price might take support there. Also, the 8 EMA is above the 20 EMA, showing the chances of the price to retreat to the demand zone from the supply zone, and then to rise up again. Also, the 75 MIN Trend is up, which makes it easier for us to buy at the demand zone. So, it is short, then long.
Cipla - LongWeekly TF:
Daily TF:
Dynamic Support and Resistance:
CPR:
MACD:
Stoch RSI:
EMA 200- Trend
ATR:
1hr TF:
Dynamic Support and Resistance:
Trend - EMA 200
Entry: Once Script price reaches EMA50-EMA79 Range - Futher Bullish Signal.
SL : 901 - 1ATR (On Entry TIME)
Target - 989-1004
Time Period: 1Month to 45Days
Fake out in Cipla (1 D )Cipla, which appears to be breaking down on from its critical support, abruptly reverses course and begins advancing in the opposite direction with high volume. This indicates that buyers are interested in the stock, which could have a high potential in the near future. The stock is resting at its 200-day moving average and has a good R: R =1:3.
Entry -895
Sl- 865
CIPLA ready for RALLY?If you find the post intresting and helpful please like the post and do give me a follow for future trades on stocks & indices.
Hello traders, the last trades are performing well Jswsteel made a high of 692 after the breakout but the targets are bigger and we are waiting for naukri to confirm support from trendline.
Now Cipla is following its channel type formation and took the resistance and came back down now it's again at the levels from where it's gave a rally for the upper resistance 4 times.
It's proven to be a good demand zone and I am expecting a good rally again from this spot.
According to price action the buying levels are.
Buy - Near 900-905
Targets mentioned above in the chart.