Cipla

1 בינו׳ 2022

Cipla, this stock has witnessed long consolidation in wave II and it closed below 50WEMA for a brief while, and also closed below good support level, and then stock has witnessed sharp pullback, fortunately, we can say that it was fake break down.
In terms of wave counts, the stock is in circle wave 3, within that it is further getting subdivided. wave II of 3 is possibly over and wave III of 3 may now unfold. One can go long at current levels or in dips (if any) with stop loss of recent swing low of 847.

fake break-down and again pull back seen

all the key levels are mentioned on chart

weekly wave structure looking good

macd in daily positive and uptick



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I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
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