Darvas Box formed in a Pharma Stock (Swing setup for 5 to 6%)

2023년 10월 16일

Cipla, the price is trading below the long-term group of ema's also we have a bearish cross of ema bands. The degree and nature of separation of both bands indicates price consolidation on these levels. So, we use Darvas Box to trade the instrument.

Short Trade Setup
The breakdown of 1145 will open the lower levels of 1080 which is about 5%
Also we have a confirmation from ema bands.

Long Trade Setup
The breakout of 1200 will open the levels of 1270 which is about 6%
But we need a confirmation from ema bands to trade the uptrend.

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Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is only for educational purposes.

Thanks
Er. Simranjit Singh Virdi

2023년 10월 18일

노트

Today the price has broken the level of 1200 with a strong momentum. If the price sustains above the level of 1200 then it could test the levels of 1578, which is a swing of about 7%. Also the range of stoploss area will be from 1180 to 1160.