Price is approaching the bullish gap area....
A strong fall is observed after a lot consolidation...
It may continue its trend to the upside...
If we observe a weakness in buyers to push the price up. Chance of fall back...until price breaks this demand keep in long view.
this stock is facing resistance @1280 range...
after turned to be bearish price testing the resistance by creating a bullish channel...
if this channel breaks and retest price fills the bottom bullish gap...
These are swing idea's which you can add your watchlist and analysis for yourself.
Keep on radar.
Potential upside stock!
This content for only education purpose!
I am not SEBI Register
Cipla has formed hammer near longtime monthly support
It can bounce back till 979 and 1057
sl can be 850 weekly close
risk reward 1:1
risk 6% target 7%
weekly rsi has turned from low
keep position in check
wealth generation means longterm
keep doing sip in niftybees
As base on demand Zone Cipla have very good demand 👍 MCB 834 848
We should go long from here to see Upside 5/10/20% as Pharma index also moving up from support 11500.
It's pure demand Zone view- structure Valid till demand Zone safe on monthly closings basis.
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.
it is crucial to identify both the buying and selling zones based on thorough analysis. For the buying zone, consider monitoring key support levels, positive catalysts like new product launches or regulatory approvals, and favorable market conditions. On the other hand, for the selling zone, focus on critical resistance levels, negative news or events that may...
