CIPLA

Cipla,
this stock tested weekly lower bollinger band and bounced back sharply recently, also positive crossover has done in the weekly oscillator stochastic indicator.
the wave structure suggests that it is in a larger degree wave 3 which is getting subdivided.
within wave 3, the stock has completed wave I and II and it is currently in wave III of 3, as wave III unfolds , the stock can posiibly rise higher towards 1120.
one can go long at these levels or in dips ( if any ) with stoploss of last swing low 886.

Wave structure

key levels are mentioned on chart

weekly stochastic turned positive

weekly rsi uptick near 60

bollinger and price action in weekly

bollinger and price action in daily


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