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CIPLA

Discussion in 'Technical Analysis' started by sujan4bw, Jul 31, 2012.

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  1. sujan4bw

    sujan4bw Member

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    Hi All,

    Breakout in Cipla today, crossed previous high of 337.5.

    Its a good choice if it trades above 341 tomorrow.

    Regards
    Sujan
     
    sujan4bw, Jul 31, 2012
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  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Hi!
    Don't watch the previous high only, if u see the 9 month or 1 year chart of cipla u will come to know from 340 to 360 there are so many resistance like 340,349,355 and 360.
    It is trying to form W pattern if it able to do so and break out 360 then you may think to buy.
    :eek:
     
    sanjay_sansanwal, Jul 31, 2012
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  3. sujan4bw

    sujan4bw Member

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    Basically I trade in FNO so I choose recent swings. I agree from long term perspective we should look at least one year chart.

    Correct me If I'm wrong.
     
    sujan4bw, Jul 31, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    Yes perfect W and so should be a good buy with a stop of 325
     
    shabbir, Aug 1, 2012
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  5. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Dear shabbir,
    can u plz explain me how it has formed perfect W, are u seeing the downfall from 337 only if so then it is perfect W but actuall down fall started from 360 so it should break 360 to make perfect W.
    Plz explain?
    thanks.
     
    sanjay_sansanwal, Aug 1, 2012
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  6. shabbir

    shabbir Administrator Staff Member

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    See the 1 year chart of Cipla and I see this.

    [​IMG]

    You can see a W with first leg down to 285 and second leg down to 300 and a break out above 332is level of the middle leg.
     

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    shabbir, Aug 1, 2012
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  7. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    so u mean to say that we should look down legs (both) and the middel leg for break out not the higher end from it started downfall for W break out.

    Cause I am waiting for 360 break out (higher end) and it made a high of 363 and now cmp is 357 and I am waiting to see the closing above 360 for buy.
    Plz explain.
     
    sanjay_sansanwal, Aug 1, 2012
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  8. shabbir

    shabbir Administrator Staff Member

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    Sanjay what you are seeing is a break out pattern and what I am saying is a W pattern where the second high is more than the previous one.
     
    shabbir, Aug 1, 2012
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  9. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    ok u mean to say that in W pattern we can buy @ 2nd high.
    Thanks Dear.
     
    sanjay_sansanwal, Aug 1, 2012
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  10. masihpatel

    masihpatel Active Member

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    nice explaination shabbir.
     
    masihpatel, Aug 1, 2012
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  11. shabbir

    shabbir Administrator Staff Member

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    Yes and its time to go through the ebook once again.
     
    shabbir, Aug 1, 2012
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  12. shabbir

    shabbir Administrator Staff Member

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    My pleasure. :D
     
    shabbir, Aug 1, 2012
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  13. sujan4bw

    sujan4bw Member

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    Watch out Cipla this week.
     
    sujan4bw, Aug 21, 2012
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  14. monilhathi

    monilhathi New Member

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    Can I still but this @ CMP 366?
     
    monilhathi, Aug 27, 2012
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  15. monilhathi

    monilhathi New Member

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    Can i still buy it @ CMP 366?
     
    monilhathi, Aug 27, 2012
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  16. shabbir

    shabbir Administrator Staff Member

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    It depends on what is your Stop loss levels and if you are comfortable loosing the amount.
     
    shabbir, Aug 27, 2012
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  17. sujan4bw

    sujan4bw Member

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    Cipla is rocking .........it is trading at 376 now.
     
    sujan4bw, Aug 31, 2012
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  18. sujan4bw

    sujan4bw Member

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    Last month 31st cipla was trading at 337 and now today 31st high is 383. Still going strong.
     
    sujan4bw, Aug 31, 2012
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  19. shabbir

    shabbir Administrator Staff Member

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    Yes really strong and in weak markets pharma stocks always outperforms.
     
    shabbir, Aug 31, 2012
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  20. sujan4bw

    sujan4bw Member

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    Cipla is looking good again......its target is 390...395. it is trading at 377.
     
    sujan4bw, Nov 4, 2012
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