Positional call – Buy CIPLA above 382 sl 360 target 415-450

2-3 months holding

Chart Study –  Cipla having very impressive chart patterns to study.  Cipla has taken 300 SMA support recently and in previous periods also. CIPLA having 300 SMA line at 365 level and recently on 03/06/3013 it has touched the support and shown some positive moves.

According to trendline study it has form RECTANGLE CHANNEL pattern and taken support at demand trendline. Also another running trendline suggesting that CIPLA having good support at 360-70 range.

AS per the RSI study CIPLA has recently tocuhed the oversold zone at 30 level and now finding its reverse move, another pattern we can observe is Positive divergence. So if it able to give close above our desire level then stock can surely give some reverse move from current level, and can hold good up trend in coming days.

STOCHASTIC also suggesting us that recently it come out from oversold zone and now preparing for its up move.

so as per all above study we can stay that, if cipla able to give close above our desire level then we can see some sure up move in this stock in coming days, and possibly it will try to touch it recent high level which is around 430 level. so according to movement we should keep on booking profit, if call triggers (closing basis.)