CIPLA LTD
- As per previous report published on CIPLA, stock gave a sharp bull rally after breaking in range bound zone, after breaking its resistance around 463, stock is still on bulls run and so far made a high @ 517 that too in just 8 trading days. (Click here to see previous report published on CIPLA).
- Now as per graph no1, stock is on bull run after breaking its range bound zone, as shown above stock made a bullish breakout.
- As per graph no 2 , stock has now entered in over bought zone as RSI has now entered above level 70, its a sign of caution for bulls and chart also indicates that stock is currently facing 261.8% fibonacci retracement resistance, as long as trades below changes are high that stock can correct, once closes above its resistance @ 517 then further bull move is expecting as long as trades above. Volumes are also decreasing this indicates bulls as so far loosing it grip.
- Intraday trading picks - close watch when stock starts trading above 517, if holds above during market hours then intraday bulls action is expecting.
- Suggested Reading - TATA COMMUNICATIONS closed above its golden ratio, will favor bulls as long as trades above.
- As per candle stick pattern, stock has also formed doji formation, this indicates change of trend, as long ad trading below its candle high @ 517, chances are high stock can see weakness.
- Suggested Article - List of NSE & BSE holidays, trading and clearing for year 2014.
- As per graph no 4, if Cipla falls from current levels then will find strong support around 497, 485, 475, 465.
- Click here to see all the free trading reports (tips) published by us on CIPLA Ltd.
- Free day trading tips.
ReplyDeleteNice Article. Thank you for sharing the informative article with us.
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