Saturday, February 22, 2014

Cipla Ltd.

This chart is the classic example of big patterns are launch with the formation of  small patterns. Cipla is in a 13 months rectangle pattern, between 426 to 364. And 8 month Head and Shoulders Top with neckline at 378. It has close to consecutive weeks below 378. Trade short if close below 364 with stop loss of 378 for target of 300. 



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