CIPLA - Upward Bullish Trend - Short Term Target 1070-1080CIPLA has been on upwards bullish trend channel, recently it hit the key support trend line and bounced off sharply. I except CIPLA to test the channel upper trend line , with short target of 1070-1080 in next 5-6 weeks. If it breaks above the upper trend line for 2-3 consecutive days, expect a major breakout. But so far it has been in the channel for last 18 months.
CIPLA trade ideas
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Cipla 1HR Time Frame EMA with Support and Resistance !This is a Simple Strategy with only use of EMA
1. Add 50 and 200 EMA
2. Set Time Frame to 1hr or Your Comfort
3. if 50 EMA Cross above 200 means its a Buy trade !
4. Similarly if 50 Cross Below 200 EMA Means its a Sell Trade !
5. Take Profit is previous support or Resistance or you can use 50 EMA Crossing as a Take Profit also
CIPLA Multi Year Range BreakoutThe stock has broken out with good volumes and retested, so it may undergo a rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 3:1
SL is placed below support zone & the previously upper & lower trendline. The target is placed based on fundamentals.
Technical Analysis of CIPLA : BUY"
TECHNICAL ANALYSIS OF NSE: CIPLA
The LAST CLOSE PRICE of NSE: CIPLA is 952.95. The PARABOLIC SAR is showing the UPWARD SIGNAL with TREN D as UPTREND . The FIBONACCI LEVELS analysis shows that the CLOSEST FIBONACCI LEVELS is 0.618 at the FIBONACCI STOCK PRICE LEVEL of 954.25. From here, the Key Support and Resistance levels are SUPPORT 1 at 949.5, SUPPORT 2 at 934.8 with RESISTANCE 1 and RESISTANCE 2 at 970.4 and 997 respectively. The Key 50% FIBONACCI LEVEL stands at 934.8 which is the crucial Fibonacci Level determining whether the scrip will maintain the trend or not.
The STOC RSI has the values K and D as 81.92 and 83.66 respectively. At this level it the status is OVER BOUGHT . When we look at the Moving Averages, MACD is the crucial indicator to look into. With MACD VALU E at 7.77 and SIGNAL at 4.02 along with HISTOGRAM showing values of 3.73, the STATUS is clearly UPWARDS .
The best indicator to determine the Trend Reversal is FISHER TRANSFORM and currently the values of FISHER and TRIGGER stand at 2.27 and 2.22 with SIGNAL as TREND CHANGED TO BUY . A very important factor while making the investment is to see if there has been already too much of Buying or Selling, and that are we entering too late into the transaction or not. Thus, with WILLIAM's R% value at -0.1525 the STATUS is OVER BOUGHT.
No one wants to buy costly things, and thus always look for the bargain or appropriate price levels to buy things. Same applies to Stocks, however the only exception would be some Hot Stocks that one wants to have any price. Looking at this perspective, the P/E RATIO of the stock stands at 30.32 which signifies its Price Level to be AVERAGE.