CIPLA-Double Bottom -Bearish

[usha muthukumar]

STOCK=CIPLA

PATTERN=DOUBLE BOTTOM

POSITION=Short

TREND=Bearish

TRADE PLAN:

ENTRY=617

SL=653

TARGET=551(Risk=36,Reward=66)

VOLUME=HIGH  while crossing the neckline

PERIOD=1 Month duration between the two bottoms

[Geetha]

For Bearish don’t we usually consider Double Top?

[usha muthukumar]

Its not about the pattern mam ,either DOUBLE TOP/DOUBLE BOTTOM ,if bears are strong enough to move towards the bulls area we can create a SHORT position after crossing the neckline.

[Sangeetha]

We consider only bearish for double top because the area is buyers zone

[usha muthukumar]

ok i will check

[Author]

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