Cipla Triangular pattern at 38% fib level- ready for breakout?
Higher time frame analysis was posted on May 10 2021- There I had mentioned "W" pattern formed at 38% fib. So based on that and current behavior of price action I feel like the stock is about to give a breakout. This is not a signal to buy but a stock to watch out for coming days.
Moving down to 15 min time frame it is giving a triangular pattern (which is a breakout pattern). Enter into a long position if 906.75 is broken.
Moving down to 15 min time frame it is giving a triangular pattern (which is a breakout pattern). Enter into a long position if 906.75 is broken.
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