Cipla Trade on 19/04/2021CNXPHARMA stocks are in uptrend. Also the ascending triangle pattern shows the bullishness in the stock. If it is broken with very good volume it is good to trade it on the long side. Also provided that if RSI is rising above 70, which shows the good strength, it will a good one to trade. Consider this an analysis and not as a call. This is only for EDUCATIONAL PURPOSE.
CIPLA trade ideas
CIPLA LTD 4HRCONFLUENCE OF Daily & 4HR Bearish shark STRONG zone
VERTICAL DOTTED LINE is Ultra high volume up bars - trap of Smart Money , Higher volume- Professionals are selling into the public buying
SET UP BECOMES VALID ONLY when RSI is below 70 and IF Price breaks ULTRA HIGH VOLUME Candle LOW &
Within 3-5 price bars need the confirmation from a BEARISH CANDLE with LOW VOLUMES & with NO DEMAND l.e place for short
POTENTIAL SELL
CIPLA LTD DAILYBearish SHARK
VERTICAL DOTTED LINE is Ultra high volume up bars - trap of Smart Money , Higher volume- Professionals are selling into the public buying
SET UP BECOMES VALID ONLY when RSI is below 70 and IF Price breaks ULTRA HIGH VOLUME Candle LOW &
Within 3-5 price bars need the confirmation from a BEARISH CANDLE with LOW VOLUMES & with NO DEMAND l.e place for short
POTENTIAL SELL
Cipla - Elliott wave analysis - ABC as (X) wave in progress It has completed impulse at last orthodox top and dropped in ABC zigzag down. So the next move would a choppy bounce of (X) wave in complex correction cycle. Wait for A wave bounce to confirm the start of (X) wave for reference. When (X) wave will finish, it start dropping down again in (Y) wave.