kiranpatilblt114

CIPLA Intraday analysis for 2nd May

NSE:CIPLA   CIPLA LTD
Day TF
Dowtrend with pullback

15 Min TF
Trend: Sideways after upside breakout
M Pattern formation at this level.
Price at support level and 200 EMA

Buy:
Risky trader: Buy at 1401 after rejecting from support level with 200 EMA support. Target and stoploss 7 Points only.
Because still trend in downwards
Safe Trade: After crossing Top 02 Resistance level for bigger profits. 14 Points

Sell:
Strong Sell Bearish candles for day closing indicating bearish continuation with high volumes.
Wait for M Patter breakout and enter for big profits below 1387. Target for 15 Points.

Get confirmation from any of the leading indicators before entering trade
Trade closed: target reached:
Target Achieved for both Risky and safe traders. Still there is lot of bullish signs to move further above 1425
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