Cipla is sitting @978.40.
I will be bullish once Resistance was taken out.
If 980.35 was taken out then definetely will coming target soon.
Target 1: 1001.40
Target 2: 1019.65
Target 3: 1036.50
CIPLA LTD has been trying to break out the 1000 level but has finally given a beautiful breakout above the 1000 level.
The Target price according to the channel low is 1150 but I would suggest here to follow super trend lower band, as I believe that super trend performs well in trending chart patterns.
Cipla was in a good sideways range and the broke above with momentum. Price then retraced towards the breakout area in a good consolidation and now broke below the consolidation. There is a good opportunity of a bullish trade if price gets back into the above consolidation, thus forming a fake break out.
I would suggest to enter only if 1 Day candle closes inside...
Stock is hovering above resistance zone since 1 month after breakout from the range. Stock may start upward movement at any time soon. Buy above 1030, SL 980, TGT 1100+. For educational purpose only. Kindly contact your financial advisor before entering any trade.
Cipla has been trading in a range from 22/03/22.
The volume seems to drop and the range is a accumulation zone.
On daily time frame, the price is around its 20 ema look for the break out and once the levels are broken the stock can give a good move on either side.
Support :- 1005,987
Resistance :- 1045, 1068
The stock can be added for a swing trade and intraday...
Trade enter based on this ideas
Overall it was a up trend.
Now it was in retracement and also market trading in sideways.
trading between 4Hr resistance and 4Hr support.
in lower tf. market trading near the higher tf support. when market broke the lower tf resistance based on higher tf support. then looks to enter the trade.
Trade stratergy:
1. sideways...
CIPLA broken short term trend line ( hourly- Double bottom also there) . If the price sustained above 1055 level with good volume will give long entry opportunity( Pharma index showing bullish momentum) . Happy learning with Swing Trade Academy . If you like the content share with your friends and groups.
Cipla on 🔥. Look at the strong breakout, full of green .
And the stock retraced on 20 Ema ..now ready to launch.
MACD also + side.
Look the chart for more detail.
This is only for educational purpose.
After Range Breakout , stock retrace - Ideal time for Entry
TGT - 1150 & 1300+(Positional)
SL - 950
𝑫𝒊𝒔𝒄𝒍𝒂𝒊𝒎𝒆𝒓:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This...
