Cipla has been trading in gradual uptrend respecting support and resistance it closed on channel resistance and may see further down up to the target of 587 in near term.
Long Term Picture From the lows of 145 in Oct2008 it travelled in an impulsive way to finish primary wave ((1)) at 753 highs in March2015. Next, I am looking for Primary wave-((1)) to retrace by 61.8%, which comes to 365-375 zone -likely will finish primary wave-((2)) - which could be the next possible scenario expected on a long term basis. Biggest...
Strong resistance near 614 Traders should buy till 580 for target of 614 Investors should buy 30% now and rest on breakout.
CIPLA has been trading in a channel and approaching support, we may see the stock to touch 576 in a couple of days if market remain negative.
Hi All , I'm sure you might have seen the post on Cipla by our champ AbhishekHSinghCMT , If you haven't please do see . Following are my observations on CIPLA weekly chart time study : Please note numbers 16,24,40 all are multiples of 8 , Significance of 8 (It's a fib number) 1)Rally from may 2014 - 40 Bars Above rally gave double top in 24...
cipla has broken trend line on weekly chart big candle channel is developed stock taken support on 200 ema buy this counter with sl of 570 on closing basis target 616 then 655 enjoy
Looks more downside Failed breakout With Good volume The information is for educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced by me. The information provided through my charts is for personal, non-commercial, educational use and display.
NSE:CIPLA is at an important support tracing back to 2014. It's currently trying to overcome it and has a positive market structure with good trend strength. As you can see it is having 2 rising wedges forming, a smaller one inside the bigger one . Indicating a very good sign of bullishness. One should expect upside and look for long trade opportunities.
cipla is witnessing huge chances of a breakout ....if it crosses the red band with volumes 611, 617,640 in very short term !! look out for break of 587...
CIPLA has been gradually trading upward in a channel and it approaching support,traders may go long at 570 with a target of 610 in near term with SL 560.
It is been observed on the Weekly and Daily chart that the price action is breaking out from a downward channel as well as from pitchfork lines, indicating a further move up. Target: 600 Stoploss: 578
Hopefully it will not break the uptrend channel Initiated a buy at 569 target 1: 578 SL :563
The price action is showing its nearing to 633 days EMA 591.29, its safe to buy for Long holding CMP is 568.80 , all other EMA in contraction agreeing price
CIPLA has been retesting resistance but unable to breakout upside, it seems to be approaching the crucial 50% fibo level around 537 in near term, it is trading inside the bar and may to downward. traders may go short CIPLA for a target of 537 in near term.
short CIPLA @ 555...548 with targets of 535 and 530 wait for supportline breakdown...
As it can be seen that two inverse head and shoulder pattern has been formed in cipla on daily and weekly charts. So it will be a buy on dips strategy at around 575 with a closing basis stoploss of 565 with a short term target of 600. And once if it breakes 600 which is a hurdle then you can easily expect the targets of 670.
One of Stock which will have least impact due to demonitization ,Pharma products allowed to sell with old currency notes , USFDA approval , Good Quater results, 356 medicine bans lifted by court in which Cipla has majority of medicines. Currently Trading at 78% retracement level in hourly charts giving reversals/ Already crossed 23% retracement on 8th Dec...