Cadila Healthcare is in the uptrend in all time frames. Primary (Monthly), Weekly (Intermediate), and Daily (Short Term).
Trading Plans - An analysis without a proper trading plan is very much useless. It's trading that makes money, not fancy analysis.
Plan - A On a daily chart, the price is trading in a rising channel, recent consolidation formed a falling wedge chart pattern. Expecting price to breakout and continue its prior trend.
Plan - B Take a long entry when price pullback to the prior resistance zone, which is a 290-300 price zone. I will update the trade accordingly if and when happens.
On a weekly chart, the price already broke a prolonged falling channel.
On a monthly chart, the Price went up in an impulsive wave after forming a double bottom and currently consolidating at 0.38% Retracement.
I will be updating this idea frequently as per the price behavior. If you have any alternative analysis in Cadila Healthcare, do share in the comments.
Thank you, EEz
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Cadila, Stop-loss hit. Any single tick below 320 is a stop-loss triggered. No Waiting, and No Watching.
Trading set-up is still tradeable once it's closes above 338 If 318 holds. I will buy it once again at 340.