CIPLA LTD
- CIPLA moving in strong range bound zone in daily chart as shown in graph no1 , this indicates as long as stock trades in between its range, trend is not clear, but once stock comes out from its range then sharp move is expecting , currently stock is trading near highs close watch id Cipla closes above 463 and stays above then stock to favor bulls for next 1-2 trading days.
- Intraday close watch once stock starts trading above 463, if stays above in day trading then intraday bulls action is expecing in Cipla.
- Suggested Reading - ICICI BANK will favor bulls once stock closes above 1513.
- As per graph no 2, stock major indicator MACD is moving in -ve zone, this indicates weakness in cipla, but instead of weakness stock got stuck in a range, Close watch if MACD indicator turned + ve then this will favor bulls and stock can give sharp up move.
- As per graph no 3. if stock successfully close above stays above 463 then Cipla will find next strong resistance around 482 its 161.8% fibonacci retracement. Close Watch.
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