CIPLA trade ideas
Cipla Possible Inverse Head and Shoulder BottomCipla chart shows Classic Inverse Head and shoulder pattern.
IH&S often marks the bottom and shows trend reversal.
Currently Right shoulder is being formed on the chart and neckline being 480.
If 480 is broken and retested, Inverse head and shoulder target is 560 - 580
Pattern invalid of daily closes below 430.
Cipla moving in Up channel in Daily chart at Break / Make LevelHi Traders,
Cipla Moving in Upward channel in daily chart can go:
1) Long on breakout from Upward channel & imp resistance around 484 Level. (See chart)
2) Short on breakdown from Upward channel till target at imp support around 400 Level & moved back to downward channel. (See chart)
So Cipla at make or break level with moving in upward channel & imp resistance at around at 484 level (See chart)
What indicator are suggesting:
1) RSI moved above 50 (Bullish) & making higher bottom . (See chart)
2) MACD which is momentum plus trend indicator turn positive as signal line cross above zero & MACD line is above Signal line. (See chart)
Quarterly Result is there on 6 Nov , coming day will decide will direction it will go breakout or breakdown from Upward channel.
Happy Learning );
Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
CIPLA chart studyWill face stiff resistance around 445-450 levels. If breaks with volume then only go long.
If supply area not broken, can see a slip till 425-420 levels.
Cipla - Resistance BrokeSupport Levels: 435, 431, 427
Resistance Levels: 445, 449, 455, 458,462, 464, 472
Trendline Support Levels: 433, 417
Trendline Resistance Levels:NA
789 break of 447 triggers further downsideDont trade in this stock; this stock is not trader friendly
if short, Keep compulsory SL
CIPLA OPPORTUNITY 10 TO 15%CIPLA HAS A GOOD OPPORTUNITY FOR ONE MONTH INVESTMENT, WITH STRICT STOPLOSS
Sell Cipla below 474 for 2% TargetBuy Cipla above 482 SL 474 Target 495
Sell Cipla below 474 SL 481 Target 465
Trend: Sell Side
Cipla Chart (1D)Black Line denotes RSI DIVERGENCE(BULLISH).
Blue Line Represents Trend Line.
Pattern represents Bullish Crab Pattern.
Analysis:
Buy above 483.5
Targets are 484.5,486.9,504.75,505.9,510,511.7,518.3,525.85,527,533.6++
SL-477.45
