CIPLA at monthly resistance zone...
A break is observed from this zone in daily time frame...
failed to close above the resistance...may lead to fall again...
on bottom side observed a bullish gap left...
After filling the bearish gap...price moved drastically to upside.....
keep watch this stock...if any rejections from resistance will go for short.
Observations::
After a strong fall from the area @1040 level,
price is coming back to the same zone with a strong consolidation @960-980 range.
we have a bearish gap left @1020 range.. will see if price fills the gap and again falls or not.
keep track this gap and levels.
Observations::
------>> the stock is Trading in the channel, wait for channel to be broken, Upside or downside.
we have a strong supply zone @960 level,
where previously strong sell of is observed, and slowly moving to upside.
if it it breaks upside we have gap left @1020 level that will acts as Resistance.
if it breaks down we have strong demand @800 level,...
