CIPLA trade ideas
CIPLA ( RESISTANCE BECAME SUPPORT)Cipla taking support near all time high. Now resistance became support at all time high.
psychology behind buying here is this - people who left for buying near all time high they will buy. and week hand out because of there depleting profit as stock coming near their buying level.
Fresh buying will take price higher.
Always keep sl in system not in mind. This is the only grail in the market
CIPLA--Near its Bullish gap??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.
CIPLA--@Monthly Resistance ??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.
CIPLA--Near to Its Bearish Gap ??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.
Long CiplaFirst time using different technical approach for this trade.
Weekly and monthly is on bull trajectory. Daily is inside the rising channel and rejecting at upper channel
Expectation is that it will come down to test the bottom channel. But Hourly is also making bullish price action. so successful test of any hourly zone will trigger an entry.
CIPLA--@Channel Breakout Level.Observations::
------>> the stock is Trading in the channel, wait for channel to be broken, Upside or downside.
we have a strong supply zone @960 level,
where previously strong sell of is observed, and slowly moving to upside.
if it it breaks upside we have gap left @1020 level that will acts as Resistance.
if it breaks down we have strong demand @800 level, wait for more confirmation.
If it is a drop base drop form...more fall is going to observe to the below levels.
keep use alerts.