CIPLA - Important support/resistance levels
Key highlights:
- Marked out a few important horizontal S/R levels in order to give a better idea to the new learners.
- Do not trade in between the levels, always trade level-to-level.
- 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.
Disclaimer:This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (johntradingwick)
Community Manager (India), TradingView
- Marked out a few important horizontal S/R levels in order to give a better idea to the new learners.
- Do not trade in between the levels, always trade level-to-level.
- 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.
Disclaimer:This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (johntradingwick)
Community Manager (India), TradingView
Rajat Kumar Singh,
B.Tech (Delhi Technological University)
Global Community Manager, TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Amorella: amorella.in/
B.Tech (Delhi Technological University)
Global Community Manager, TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Amorella: amorella.in/
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