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Can easily climb till 555
Pinbar broken with strength
Buy On Breakout
This is weekly chart of CIPLA on NSE (INDIA) with CMP @ 529.95. Observations are as follows:
1. A trendline has been drawn which has been tested as support at multiple occasions as indicated by arrows on the chart.
2. Current week bearish candle (yet not closed) has large body with huge surge in volume and hence possibility of its decisive downside breakout can't ...
The correct trade will be buying above the price action point BUT, I am buying right now with a tight stop loss.
Cipla close to the previous support (multiple) level. More cutting down is possible. It is also possible that it will turn around from here since Pharma is doing the same. Good investment chance keeping a small SL.
Buy or sell on break
Very good momentum signal for early uptrend
trade on break to any ( buy /sell )
price channel + good results + volume growth = can bounce
AB=CD target 380
Support area 355-362
MACD crossed negative
refer chart for details
Almost at support and chances of trend reversal if level 510 not breached on closing basis.
BELOW TRENDLINE SHORT, GO WITH RSI, PRICES REJECTED FROM UPPER LEVEL
Short Cipla below 625
T - 618, 610 & 598
Touched 38.2 fibo level
Further strength candle will guide the direction
CCI(D) < -100
Explained in charts
Disclaimer : Purely educational purpose only not a recommendation