Hi Friends,
It is very interesting to see when Market is distributing different stocks at different time. Time Cycle wise Pharma stocks are the Late Movers in Market & generally form Right Shoulder of the Market Head & Shoulder.
Current advance on CIPLA looks to be nothing but a corrective advance in (c) leg of the 'B' of Flat. CIPLA currently looks to be in Cycle Degree 4th Wave Corrective which is a large Fractal & might be developing as Flat Corrective.
A 3 wave move from 380-275 is marked as 'A' leg & Currently its moving in another 3 wave move up in 'B' leg. The 5th of (c) shall take some more time till mid Sept. to reach 370-380 area. Once 'B' leg is over the Stock may start drifting lower in its 'C' leg of Flat towards 275-250.
Currently we are examining this preferred Count of Flat in 4th Wave. In case of Flat C shall be a Clear 5 Wave Move Down & may take lesser time than A & B. However, we would consider the alternative of Zigzag as CIPLA starts Drifting lower towards 275 & internal legs unfold.
So strategy for Investors is to exit the longs as stock moves up.
Thanks & Regards,
Harsh Dixit.
It is very interesting to see when Market is distributing different stocks at different time. Time Cycle wise Pharma stocks are the Late Movers in Market & generally form Right Shoulder of the Market Head & Shoulder.
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| CIPLA |
Current advance on CIPLA looks to be nothing but a corrective advance in (c) leg of the 'B' of Flat. CIPLA currently looks to be in Cycle Degree 4th Wave Corrective which is a large Fractal & might be developing as Flat Corrective.
A 3 wave move from 380-275 is marked as 'A' leg & Currently its moving in another 3 wave move up in 'B' leg. The 5th of (c) shall take some more time till mid Sept. to reach 370-380 area. Once 'B' leg is over the Stock may start drifting lower in its 'C' leg of Flat towards 275-250.
Currently we are examining this preferred Count of Flat in 4th Wave. In case of Flat C shall be a Clear 5 Wave Move Down & may take lesser time than A & B. However, we would consider the alternative of Zigzag as CIPLA starts Drifting lower towards 275 & internal legs unfold.
So strategy for Investors is to exit the longs as stock moves up.
Thanks & Regards,
Harsh Dixit.
CIPLA Seem to Have Formed Ending Diagonal in 5th of (c) of B..
ReplyDeleteInitial Break below 360 & Then Below 345 would confirm a significant downside in the Stock to 275-250.
Exit ASAP.
Thanks & Regards,
Harsh Dixit
It hit 396 down to 384 levels. Can we expect another smart rally so that we can go short around 390 levels? and what would be the SL for the shorts if executed?
ReplyDelete@kiran
ReplyDeleteToday CIPLA seem to have completed its 1st wave down. and now corrective rally towards 380 might give another chance to short.. Well the above analysis is for Long Term Investors. Short term traders need to track the stock on daily basis..
Thanks & Regards,
Harsh Dixit.