Topic Statement:

Cipla is currently stuck in a sideways zone, consolidating between key retracement levels while setting up for a potential move higher.

Key Points:

• The price is moving between 1502 (23.6% retracement) and 1380 (38.2% retracement), forming a clear horizontal range
• It remains fairly above the 200-day EMA, indicating underlying strength despite consolidation
• The stock may move up toward 1700 to form a double top, where it is likely to face strong resistance

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Disclaimer

This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.