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 trade ideas
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
Cipla dipping a wee bit more 615-632 I’d keep buying looking slightly 🐻 on the lower time frames so possibly go down a little more .
As mentioned before I feel the Wales aren’t done accumulating, this dip then we get back on track .
Needs some good news to get it going ...
Manual SL in case it dips below 615 ...
Targets as per earlier chart
Cipla Ltd (Cipla - NSE) - ABC wave patternCipla Ltd (Cipla - NSE) is in ABC zigzag wave pattern in 60 min time frame. It is in 2nd wave sharp correction after impulse 1st wave over of C cycle. 2nd is taking time of one or two to complete and afterward headed up for 3rd wave. In weekly time frame, it completed down side WXY correction after impulse up over.
CIPLAStocks seems to be in good uptrend , price should take support at trendline if trend line breaks we can easily see 617 and 599now 599 is major support would be difficult to break , overall nifty pharma is in good bullish trend , if the stocks take support at trend line we can see previous high of 669
Views and suggestions invited
Thanks
CiplaAs per Harmonic, CIPLA forms a shark pattern. It will reverse from the box. And Another passible to reversal will happen price action but it is testing 4th times. it might be weaker. More cation on the short side and don't comparison/forget to place the stop loss
CIPLA - UPDATE Green Pill or Red PillHTF chart posted earlier just scanning this for an intra day tomorrow.
7 day and 21 offering some sort of confluence of support at the purple and red lines ( newly formed S&D zones)
BUY RED SELL GREEN always ....
Cipla may pause its uptrend in this supply zone - Longs HedgeNSE:CIPLA can possibly pause its uptrend in this supply zone.
One hedge their long portfolios here.
CIPLA Close to invalidation of idea .. good zone above!Taking a punt at this just cause of that its had 26 hrs of accumulation i think above 636 support.
So SL just below that ...
the 21 day is acting as support and based on the killer bullish engulfing move a few weeks ago i feel 745 is coming quite fast.
Please check my earlier HTF graph for reference of levels to get in and out.
Anyways lets see what happens with this 641.40 average entry with SL as mentioned above .
Hoping for 669 710 745 and beyond ... though i most likely won't be holding for long.
Setting up nicely as a descending triangle on the 5 minute.
Cipla view from 1 June 2020Cipla has tested the Historical S = R Zone .. also fib retracement to fib .23 level . Upward Also it is trending at monthly Uptrend level possible uptrend till resistance or the highest level is reached . also good buying volume present
