Did we know Cipla results would be poor ?

Did we know Cipla results would be poor ? Or the stock would tank from 620 to 530 ?

To the 1st question – of course not !

To the 2nd question – yes absolutely !

See our previous posts on Cipla.

  • From our Post on 30 Aug 2018 when price was 644 : The rally from wave A low at 458 to 677 is choppy and overlapping.  It appears that wave B is complete or close to completion.  Next sizeable move should be lower in wave C to below 550.

 

  • From our post on 21 Sept when price was 668. : No change from our previous post.  Cipla appears to be in a long term triangle, and its next significant move could be lower. A move below 550 may get us interested in a longer term buy. (chart below).

Cipla Elliott Wave Analysis

From our post of 15 Oct 2018, when price was 622 : Cipla appears to be in a long term triangle, and its next significant move could be lower. Since this is a 2 week chart (each candle is 2 weeks), this triangle could morph into something else over time – which possibly could be more bearish.  The medium term outlook for Cipla is lower, tho’ short rallies are possible as long as 678 is not exceeded to the upside.

Cipla Elliott Wave