Cipla is near crucial support zone on daily chart .
Entry:
We can go long on close of strong bullish candle near support zone .
Target:
We can keep the target 1 & target 2 near the next résistance zones as marked on chart.
Stoploss:
We can keep stoploss below the support zone .
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Buy Cipla for a target of 1000 for 1-2 weeks. RSI is about to cross 50 level showing good strength in Weekly chart.
Can buy a Call Option for June expiry. Keep SL as per your appetite.
Cipla is looking good breaking a horizontal resistance need a day close above resistance (926 Price) for this trade for the target of 945 and 965 with the stop loss of 918 below a day close which is looking a good support made there.
Cipla has formed an ascending triangle pattern with a good breakout...
it is looking good for swing purposes...
buy activated at 951
targets are 965, 998 and 1018.50
sl will be 935
#Buy #Cipla EQ. closing 945.45 with a stop loss of 926 then #targets are 970-997-1020.
#Buying #reason.
1 --> Price creates a triangle pattern.
2 --> Price Breakout.
3 --> RSI is cross 60 levels.
4 --> ADX shows the upside move and +DMI rise.
5 --> #Volume also shows the breakout.
#cipla #buy #breakout #crossover
Posted for educational purpose.
Weekly chart of Cipla. It’s stuck in parallel supply and demand zone range for past 6 weeks.
Last spike is result day reaction. As the latest quarterly results posted on Friday ( 12th May ) looks to be good and may potentially trigger break out from this range.
Current price is 937.5
Stop loss of 930 ( < 1 % )
1st target 955 -...
Price is trending inside an upward channel. If it breaks down, then we can sell below 900 with the stop loss of 910 for the targets 890, 880 and 866. This is not a recommendation to buy/sell. Do your own analysis.
Stock after a downfall made a base around 850 levels
Currently in a consolidation phase buy once it crosses 924
Target 955/965
Stop loss 909
I am just representing my views.
For educational purpose only.
Taking support near lower BB range and even pharma index is also taking support near lower range of BB. Some long may be initiated with SL of month low. As stocks move in favor position may be added.
-> Cipla in weekly chart is taking support 850
-> In 1hr Timeframe it is in channel pattern
-> If it breaks above the trendline we can go for CE
-> If it takes resistance and reverse down we can go for PE
-> Breakout candle or resistance candle can be the stoploss
-> Make sure that you take next month contract (April)
An international giant from pharmaceutical sector engaged in the manufacturing and marketing of active pharmaceutical ingredients which have a wide network in India and international markets. Cipla along with other pharma stocks have a bitter experience this year and fell about more than 6 % so far . It is beleived that high raw material cost due to inflation is...
A morning star is a visual pattern made up of a tall black candlestick, a smaller black or white candlestick with a short body and long wicks, and a third tall white candlestick.
The middle candle of the morning star captures a moment of market indecision where the bears begin to give way to bulls. The third candle confirms the reversal and can mark a new...
Demo trade
I don't have capital to take fresh position
Price dropped Very sharply and came at support level
Price looks too extended in bearish direction and now it is resting at support level.
Target is 960/1000 for short term
Very tight stoploss
Low risk high reward setup
