Technical Analysis of Indian Equities by Nooresh

Cipla – Technical Breakout above 395

Have not been posting many trade ideas on the website of late because of the volatile and downtrend in midcaps.

Nifty has given a positive divergence as expected and may now be forming a base for next 1-2 months before a new move starts.

Midcaps/Smallcaps look very interesting and one must buy quality stocks at current levels.

 

One of the short term trades we are looking at is Cipla and positioning for a breakout above 395 and a quick move to 415-425. Although will keep booking profits on rise.

 

Cipla

 

 

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Article by Nooresh Merani

Nooresh has written 2595 articles.

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{ 1 comment… add one }
  • Hari April 4, 2013, 23:14

    Aurobindo looks better though.

    Reply

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