Can go long if closing above 923 - Length of old channel is around 475 rs. Next long term target may be in 6-9 mnths should be around 1300-1400. It has sustained above the channel for 2 months; and analysis is backed by blockbuster results posted this quarter.
SL - Weekly closing below 730
20 year Channel breakout with high volumes for Cipla.. Next long term target should be 1300-1400. considering it is a manufacturer of covid drug Remdesivir, it should not take long to reach the taret. :)
NO SL required!!
- RSI has lower top divergence on 4H chart
- Previous quarter Sales YoY (-43%)
- Previous quarter PAT YoY (-97%)
QoQ numbers are positive..
Watchout for recent uptrend support line breakout..
Sharing my 1st analysis.. Comments are most welcome.. here to learn, share & earn more..