Cipla – Swing trading idea:
– Cipla has been consolidating for the last 1 year.
– The parallel channel has a width of about 107 points.
– Using the measurement objective, the upside breakout target of the parallel channel lies somewhere near 1090.
– The price is well above 200 MA cluster, hence the bias is positive.
– Any pullback towards 950-970 seems like a good buying opportunity.
Important links:
- Follow the free Telegram channel for early updates.
- What is Divergence trading?
- What is Bullish divergence?
- What is Support and Resistance?
