The one year long channel may come to an end for this stock, as the stock has been showing signs of a breakout. There has been huge volume -price action yesterday, considering all this the stock will zoom to 400 odd levels if it gives a sustained move above 353-355. Two ways of buying the stock are:
1) Buy Cipla half qty @ current levels of 345-347 and add on dips to 330-335 with stoploss of 326 on closing basis and targets 390/400 in short term.
2) Buy Cipla only if it sustains above 353-355 with stoploss of 342 on closing basis and targets 380/400 in short term.
Have a nice trading day
Regards
Ankit
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