breaking swing high on daily time frame with 1170 closing support a move possible towards 1240-1250 level . bouncing from Down trendline support channel .
Short CIPLA FUT below 988 for 960/900 and 880. After breakout above 970 on weekly charts, Bulls are not able to extend their gains. Fantastic bearish set up is there. Long inwinding and fresh shorts will be there below 990. Perfect bullish trap can be there. When short activated keep sl near 1010 levels.
Technical analysis of cipla
No 1( trend is friend ) 4hr near to break out
No 2 candle is showing indigestion in the market shoting star hanging man doji
No 3 rsi diversion
No 4 oi said 1060 pat new 165 order closed on call option and
So let's check what is future
#CIPLA last trading session treded our retracement support area 850-860
we can go buy above this level upside tgt 960 and posistional tgt 975
once break our support level, it will move lower level
comming trading session.
#CIPLA trading little resisdense zone 945-950,
bottom level of buying zone 915-922,
if it again come down bottom level we can buy and
hold for upside movement 960-970,
if it trade below bottom level it will move down side.
if cipla comes in the demand zone its very good opportunity to go long. this is very good demand zone on basis of option chain & put call ratio is very high.
if you want zones of your stock please comment.
CIPLA which was travelling within a parallel channel had just broken out and closed higher for the day. Going long from here, one can hold for the target of 940 ranges. If anyone missed this break out, not to bother - can wait for a retest & reversal around 850 to 845 ranges and enter there. SL for this breakout shall be below 834
Cipla is in the completion of the 5th wave ( e wave ) of the greater degree wave C .
wave e always has five waves within .
Stoploss is marked in the chart,
play this by Options or by futures ...
My strong conviction for this trade
Posting here to have a demonstration of how we take trades based on Elliott wave principles.
For paid works your discussions and...
