CIPLA

 CIPLA

CMP 912 Lot 650


After a strong uptrend from 575/600 to 900+, the price has been in a range 900-970

Before the rally, the price consolidated between August 2020 to March 2021 with the VP POC 765


This gives an indication of a strong support at 765

The recent consolidation after the rally between April 2021 and December 2021 has been at POC of 950

If the price now falls below 870, it could mean the recent consolidation is region of distribution and the price can then find its support at 765

Strategy
Enter short at price 870/865
SL 900
Target 765
RR 0.3


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