Cipla can buy for long term target 760-800 CMP 663 2-3 months Cipla can buy for long term target 760-800 CMP 663
2-3 months time frame
this can be correction or impulse
minimum target will 760-800
CIPLA trade ideas
Cipla, ResistanceTrend is changing in Pharma industry after 3-4 years of slump condition. Note that Cipla is a very volatile stock. At present price has recovered from lows and is facing resistance. So this is a decisive level. Price is comfortable above 200 DMA and one more thing is 50 DMA may soon cross 100 DMA which will boost the sentiment. A correction or consolidation is expected at the present level.
CIPLA - Daily Candle Chart- RSI +ve divergence (hidden)
- bounced from 200 EMA
- Targets are fib ratios 1, 1.618 on chart with SL as last low of 555.
- WAIT FOR BULLISH CANDLE TO GO LONG
Note - This is only for study purpose and i will not be liable for any PnL made based on above chart.
Please DYOR.
CIPLA LONGExtremely favourable risk reward trade. Stoploss at 503, just above 200 week moving average. Extremely important level for any stock. It has broken the resistance level of 500 and may soon breach 100 DMA.
First target is 540 and second target is 576.
This trade does derive comfort from the general breakout of pharma sector in India.
