It seems big money is entering Idea. Look at the last few candles volume.
Volume keeps increasing with price. Good sign but, this has stock has been ultimate trap for retailers for a long time, so proceed with caution.
Exit as soon as small targets achieved. You can always enter again at higher price. If this breaks out it might break out really big.
SL -...
The price action suggest, it might break out above at least 1300.
Still chances to move until 1320. Targets calculated with fib.
Within this month we could see Cipla crossing 1300.
It is at one year resistance zone it should go touch resistance zone and go back down but since the budget session is in few days, you cannot be sure.
If budget is positive then it might cross but if it falls taking a short trade here.
Here are possible targets for long term. My view is hold for at least a year.
Can reverse from target zones because these are previously resistance zones.
In daily chart, volume is same for last 3-4 days but daily candle keeps getting bigger wick at top.
Price action suggest the weakness. There is a resistance area around 22.
What do you thi?
