The weekend is a good time to scroll through the charts to find some gems for the coming week and for the coming month.
Cipla is one such stock that came on my radar this week, stock had seen a good move from 738 levels to 966 levels, comprising about 35% return in just 4 -5 weeks.
After seeing a remarkable rally, stock decided to correct, and I as a buyer could take advantage of this correction to grab this stock at attractive levels for participating in the new up leg, that may take stock to 1000 and 1100 levels, and that rally is most likely to come, considering the previous strong price action.
The near-term support is at 855-845 levels, that I am expecting the prices would hold and also bounce from it.
The daily chart also provides good support around 870 and chances are there that stock might reverse from here, hence buying can be done at two trenches.
Trade type: Positional
: Pullback Trade
: Support Buying
If you are trading this, you are trading at your own risk, please do your own research as well.
Share the post, if you find it informative and useful.
Cipla is one such stock that came on my radar this week, stock had seen a good move from 738 levels to 966 levels, comprising about 35% return in just 4 -5 weeks.
After seeing a remarkable rally, stock decided to correct, and I as a buyer could take advantage of this correction to grab this stock at attractive levels for participating in the new up leg, that may take stock to 1000 and 1100 levels, and that rally is most likely to come, considering the previous strong price action.
The near-term support is at 855-845 levels, that I am expecting the prices would hold and also bounce from it.
The daily chart also provides good support around 870 and chances are there that stock might reverse from here, hence buying can be done at two trenches.
Trade type: Positional
: Pullback Trade
: Support Buying
If you are trading this, you are trading at your own risk, please do your own research as well.
Share the post, if you find it informative and useful.
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免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。