Cadila
Overall the medium term chart is still bearish
having fallen from 560 to 200 levels
but on short term charts it has made a good sort of rounding base in this 200-240 region and
it now needs to break abv 247 to really catch the upward trend
One can wait for the breakout and then target levels of 296
It is currently in a no trade zone
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
This scrip is in the Middle of No ware ,
I see so many patterns and identify them before they act ,
in my view this is exactly in the middle of structure
there are two possibilities
01) it can move out of the structure and make an impulse pattern
02) or it can further move in side way and make one last drop before making an turn around
which one will...
Price is making ascending triangle pattern and we can see it is squeezed to a corner to a trend-line as well. If it breaks out and sustain above 228.50 on 15 mins we can enter long for 238/243.
The stock is in deep downtrend but has made a Victor Sperandeo 2B Reversal Pattern with RSI Divergence therefore it looks good for trading/investment. Traders can enter a long at current level with SL of recent low which is quite affordable. One can easily fetch 2.5 - 3 times reward of the risk being taken into this trade. I know that following the trend is better...
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CADILAHC
