Nifty has turned bullish after holding strong at the intermediate support of 4200, breaching it briefly. A reach to previous highs at 4565 levels are eminent. Longer term charts are showing strong bullishness. Apart from FMCG sector which is negative to the present trend all the other sectors have embarked on a long ride. Healthcare is in sideways move.
When FMCG and Pharma lag behind, it is an indication that the market is in the strong hands. Enjoy the journey.
One of our mild calls on CIPLA is holding range, but, bullish on the longer term charts. Stop on this scrip has moved to 209.70. As the scrip is still hovering around our entry levels, movement of stop has given a good Risk/Reward to this trade.
We are trading this prick in our notional capital account with entry at 223.00 with a stop of 209.70. As the broad market is strongly bullish, we plan to exit 50% of our holding on target & trail the balance.
Happy trading.
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