Long Cipla @ ₹547-555 for a Target of ₹595
Atualizado
Greetings,
With no major announcements on the cards in near future, this is a pure technical play with no event driven price action. Accumulation has been going on in Cipla for a long time now, and finally today it showed strength even as the price pushed upward of ₹550 and soon the intraday action was captured by HFT players which is why the ₹3 down closing.
However, it is a blessing in disguise, buy CIPLA at ₹547-551 levels for a target of ₹595. Putting Stop Loss isn't recommended. Also, DO NOT play on margin, get ready to hold it for 2 weeks.
Happy Trading!
- Souvik
With no major announcements on the cards in near future, this is a pure technical play with no event driven price action. Accumulation has been going on in Cipla for a long time now, and finally today it showed strength even as the price pushed upward of ₹550 and soon the intraday action was captured by HFT players which is why the ₹3 down closing.
However, it is a blessing in disguise, buy CIPLA at ₹547-551 levels for a target of ₹595. Putting Stop Loss isn't recommended. Also, DO NOT play on margin, get ready to hold it for 2 weeks.
Happy Trading!
- Souvik
Trade ativo
UPDATE (26-Feb-19): A day after initiating the trade, India's IAF bombed the terrorist camps in Pakistan, as per media. Therefore, a drag was created, Nifty50 being down 300 points on open and recovered sharply during close. Cipla breached 552. Long and hold.Ordem cancelada
Keeping in view the unstable political situation right now between India and Pak. Exit the trade.Trade ativo
Get in to CIPLA once again.Trade fechado manualmente
Aviso legal
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