Positional Dual call
Script name – CIPLA LTD
Technical call – Buy CIPLA above 412 sl 394 target 450-495
If break 394 and close below 394 then sell CIPLA below 394 sl 415 target 360-320
Holding period – 2-3 months
Technical view – CIPLA is having 100MA support at 398 level and above this level recently it has made high of 411-12 level. So if it able to cross this level and sustain the will confirm uptrend. But still below 100MA level it has made low of 394 level so if it able to close below this level then we may expect some fall in this.
RSI also moving and sustaining above 50 level so if able to break upside resistance then we may confirm up trend according to RSI also. RSI having support level at 55 levels so if it able to break this support and at same time it breaking price support then we can confirm the fall here.
Recently STOCHASTIC also touched its overbought zone and started falling down, so if price also breaking recent support levels then it can confirm some down fall in coming time.
Overall study indicates that stock is trading at middle level so according to its levels we need to follow the upcoming trend.