CIPLA Price Near Resistanceprice touching 480 - 485 region and if you take a look at RSI it is very bullish and no bearish divergence till now so after confirmation of breakout we can enter in this trade
CIPLA trade ideas
Cipla - Ascending Triangle breakout - Long TradeCipla - Ascending Triangle break out - Channel Breakout - Bullish engulfing candle..
CIPLA - LongLong @ CMP, SL and TGT on chart
1) Inverted H & S
2) Close above 100 EMA
3) Close above Ichimoku cloud.
Cipla Possible Inverse Head and Shoulder BottomCipla chart shows Classic Inverse Head and shoulder pattern.
IH&S often marks the bottom and shows trend reversal.
Currently Right shoulder is being formed on the chart and neckline being 480.
If 480 is broken and retested, Inverse head and shoulder target is 560 - 580
Pattern invalid of daily closes below 430.
Cipla moving in Up channel in Daily chart at Break / Make LevelHi Traders,
Cipla Moving in Upward channel in daily chart can go:
1) Long on breakout from Upward channel & imp resistance around 484 Level. (See chart)
2) Short on breakdown from Upward channel till target at imp support around 400 Level & moved back to downward channel. (See chart)
So Cipla at make or break level with moving in upward channel & imp resistance at around at 484 level (See chart)
What indicator are suggesting:
1) RSI moved above 50 (Bullish) & making higher bottom . (See chart)
2) MACD which is momentum plus trend indicator turn positive as signal line cross above zero & MACD line is above Signal line. (See chart)
Quarterly Result is there on 6 Nov , coming day will decide will direction it will go breakout or breakdown from Upward channel.
Happy Learning );
Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
