CIPLA trade ideas
CIPLAAfter doing a consolidation near the 1st target of a Bullish Harmonic Dragon, it now appears to have resumed its rally for the 2nd target near 1000. The view would be negated below 940
Dragon Patterns are HARMONIC target probabilities of Double Bottoms and Double Tops. They are among the few rare Harmonic patterns which are continuation patterns rather than the usual reversal signals, Harmonic Patterns are more popularly used for.
CIPLA 15MINCIPLA made a upward channel earlier then made a head and shoulder pattern which I already posted here and short sell target was achieved. Currently CIPLA is ready to make a reversal for the upside but making a downward trend, breaking of downside channel with a volume upside can give a long position for this green lines are for buy and red lines are for short sell.
Bullish after a retracementStock seems to be bouncing back from a support zone...next high formed will be as give in the image...this is my speculation..for the last 3 quarter stock seems to be performing well...and it have a good pitrosky score... Karnataka gov is pushing cipla to produce more remidisiver( they couldn't make the promised delivery) so they will try their best to increase the production...which can increase the profitability of the company... fundamentally... technically...stocks seems to in a good buying zone now
CIPLA : LONG -INTRADAY (Support and Resistance) 17-05-2021CIPLA just reached back from its strong resistance level. Currently, it is at its support level. It tried to break the support level but, failed.
LONG it and the target will be till resistance. Stop Loss is mentioned in the chart.
If it breaks down the support level, SHORT it and target will the next support level.
DISCLAIMER: This is a technical analysis. Market News can affect this analysis. Do your own research before trading.