CIPLA - Upward Bullish Trend - Short Term Target 1070-1080CIPLA has been on upwards bullish trend channel, recently it hit the key support trend line and bounced off sharply. I except CIPLA to test the channel upper trend line , with short target of 1070-1080 in next 5-6 weeks. If it breaks above the upper trend line for 2-3 consecutive days, expect a major breakout. But so far it has been in the channel for last 18 months.
Indianstocks
BANK Nifty AnalysisBank Nifty has broken the major support at 38380, the lower trendline and 50 EMA. PSAR has also turned Bearish. With COVID Mutant Variant spooking the markets, it could further pull the marker down. Bank Nifty can find support near the support zones listed in the chart or EMA or Base Lower Trendline and bounce back. Failing to do so can further cause correction in the index. Plan Your Trades Accordingly.
So as of now we can see weakness in Bank Nifty in the shorter term.
Suprajit Engineering BreakoutThe stock has broken out and retested, therefore it may undergo a rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & Previously upper trendline. The target is placed near swing high.
Note: Market is having weak sentiments, making this a high risk trade. Due Caution Is Required.
P&G India BreakoutThe stock has broken out and retested, therefore it may undergo a rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & Previously upper trendline. The target is placed near swing high.
Note: Market is having weak sentiments, making this a high risk trade. Due Caution Is Required.
Indus Ind BankThe stock has broken out and retested, therefore it may undergo a rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone, upper & lower trendline. The target is placed near swing high.
Note: Market is having weak sentiments, making this a high risk trade. Due Caution Is Required.
Nifty Still in Correction Hi
It look like, Nifty still is in correction.
We have completed A @ 17613 now we are in B & it may come upto 18225 after that will fall again for C & final leg of Wave 4.
Note: - In B, we have completed A & B Leg & now we expect C leg for 18225.
Best of Luck & Happy Diwali....!!!