CIPLA

15th Nov

Wave III completed at exact wave I length and now Wave IV underway. As it usually happens at the end of a wave some bad news triggers correction, here the results of this quarter have triggered it.

Generally wave IV travels near wave 4 of lower degree which is at 574, however the wave count of the stock is so bullish that it may not wait till then. From the point of initiation of Wave V minimum distance it should travel is 58 pts.

Weekly chart

26th Sep

Closing on to target in final wave up ie wave V.

Good selling was seen on earlier corrective move and extreme care is required for long trades.

Here is Daily chart with full counts.

9th Sep

CIPLA is a classic example for both EW and conventional technical analysis.

Super moves, which is the hall mark of wave 3 combinations, is evident here. And for conventional technical analysts the long term channel break out of this stock is a vivid example.

Look for move near 650 in short term. But that may not be all in medium and long term.
Here is monthly chart with larger degree counts.

28th Apr

Likely to visit
391/389

Move after that should be interesting to watch.

Hourly

16th Apr

Retraced more than expected. Be careful at 404 TSL suggested.

15th Apr

Micro Count
Possible wave 3 swift moves initiation between 396 and 400 
for targets of 409/414 
with SL below 396.
It may even start the move without going down to 400 in that case trade long above YDH.
Move above 406 almost confirms the target of 414.

Hourly