Cadila Health

We can short this stock for the following reasons.

• Fib level confirm for wave 2 and we are currently in formation for wave 3 as that is on the 2.618 level
  
• The daily chart also shows the formation of bearish divergence
  The market for the last few days if also forming inside an upward channel so possibility of a breakout is low and may result in fake-out.
  
• The latest candle has been unable to break able the 2.618 fib level
  

How to trade this trade setup
There should be a breakdown and this would be the entry point.