CIPLA trade ideas
CIPLANSE:CIPLA
CIPLA if you see, has iconsolidating for quite some time with support of 633, which had been shown in earlier charts of cipla,
but the way it has given a breakout, the force seems great. A Long initiated can be taken with 670 as stop loss for target on upper side of 680 and 693 which was the last high made, it can test that.
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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Short CiplaShort Cipla on basis of
1. RSI Over bought
2. Trading Near previous structure
3. Lower low close candle confirmation
Stops and targets are as mentioned in charts
Intraday : Buy CIPLA above 637.25 T1: 640.15 T2: 643.50 T32:652 Intraday : Buy CIPLA above 637.25 T1: 640.15 T2: 643.50 T32:652 SL: 632
Cipla about to give trend line breakoutNSE:CIPLA
It is in the support area and might give a trend line breakout.
Cipla - Short?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 can pull backCipla 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 - GET A MOVE ON ... 696/745Was anticipating some news for this a few weeks ago and since then has just been messing about.
Just read that its got some sort of approval for COVID medication which should cause some interest in this and pump it .
On the higher time frames looks like the bull flag has been painted with a golden cross on the 2 day chart imminent.
Low time frame 636 has been broken and also flipped again into support with a lovely bullish engulfing on the 30 minute to close on friday .
645 we cross and then continue to 696 , 745
After flipping 745 this has a lot of room to grow 1097 is where the next major resistance is at.
already in a swing position on this going to look at a possible intra day with 641 possible entry ..
CIPLAIts a sell below 633 for a target of 624 and 612
If sustains 633 tan go in for a buy 640 645 and 651
Cipla - Profit booking and supply zoneCipla 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
TRADE ACCORDINGLY USING MARKED POINTSI AM NOT HERE TO PROVIDE ANY TIPS THIS IS PURELY FOR STUDY DO UR OWN ANALYSE .DONT BLAME ME IF GOES OPPOSITE
