CIPLA Quarter earnings consolidated net profit up 43.9% at Rs 375 cr and today it ended as top loser falling for 2 days in a row. It showed a bearish engulfing pattern indicating buying interest showing uptrend in the coming days. Pharma sector is showing correction phase and the bulls tend to roar in cipla stock. The buying action is frenzied as the candle usually closes at its highs with little to no upper wick. This in turn triggers more buyers who spill over into the next candle. If the next candle closes higher than the bullish engulfing pattern, the next leg of the uptrend usually forms.
