A strong Bearish pressure is observed in this stock recently. On bottom side we have a bullish gap left below at 1060 zone. A left shoulder is formed at 1230 zone. we have a chance of right shoulder formation, if a rise is from 1135 at neckline... then we have a chance of break below the neckline to reach, the bullish gap. wait for the price to break the neckline...
Price is approaching the bullish gap area.... A strong fall is observed after a lot consolidation... It may continue its trend to the upside... If we observe a weakness in buyers to push the price up. Chance of fall back...until price breaks this demand keep in long view.
this stock is facing resistance @1280 range... after turned to be bearish price testing the resistance by creating a bullish channel... if this channel breaks and retest price fills the bottom bullish gap...
CIPLA at monthly resistance zone... A break is observed from this zone in daily time frame... failed to close above the resistance...may lead to fall again... on bottom side observed a bullish gap left... After filling the bearish gap...price moved drastically to upside..... keep watch this stock...if any rejections from resistance will go for short.
Observations:: After a strong fall from the area @1040 level, price is coming back to the same zone with a strong consolidation @960-980 range. we have a bearish gap left @1020 range.. will see if price fills the gap and again falls or not. keep track this gap and levels.
CIPLA weekly time frame already seen bearish candle,,,, RSI in hourly pattern rejecting 40 level... swing support of 1081 broke it may touch 1002, 964 level fib retrcmnt 0.786
After a long rally, major consolidation happened in this stock. Now tested at higher prices but volume is not impressive to enter into stock so, no reason to buy for new buyers(they will wait for proper correction) unless any good news for pharma or stock the price struggles to move further. My view is neutral to short. It breaks the support and again raising to...
Cipla 1hr chart formed Descending Triangle gave a Breakout due to good quarterly results. Expecting a target of 950. 27 Oct 2021
Everything mentioned on the chart for learning and educational purposes only.
Cipla is showing negative divergences on a 15 minutes time frame. Ideally, when price makes a new high and RSI fails to make a new high, it gives a good signal for a short term pullback. However, pharma is in a strong bull rally, so entry and exit should be real quick. Target 1 - 810 target 2 - 795
This analysis is purely based on price action and Chart Patterns. The analysis is on 15min TF hence target can be achieved in intraday trade or in couple of days Trade strategy is explained in image itself. Don't run after the price. Always plan your trade & trade your plan Keep trailing SL accordingly once entered into the trade. Trade at your own risk and...
Cipla failed to sustain above 818 and some more profit booking expecting.
Negative Divergence on RSI, reached 100% on Fibonacci and reversed from that level, dropping volumes and MACD reaching zero line. Last four candle pattern suggests a downward journey from here.
Cipla looks in late stage rally (probably done). Can move below 600 & lower soon. Probably towards its 38.2% retracement level of 565. Not a good place to create new positions
Cipla is on the harmonic Prz Area. The reversal zone and price can correct from here. Exit if you're holding any position in Cipla. The new position is in the short side. Sell: 665 SL: 680 Target: 590/500 Timespan: 4-8 Weeks
CIPLA is on strong uptrend from past couple of days, however currently at strong trend-line resistance. Incase if gap-up opening above resistance ans sustains, go for clear long. Incase if pharma sector is -ve in next trading session, we can consider for shorting opportunity. Add to watch list