EquityPandit’s Outlook for Cipla for week (July 13, 2015 – July 17, 2015):
CIPLA closed the week on positive note gaining around 2.5%.
As we have mentioned last week if the stock manages to close above the levels of 635 where 50 Daily EMA is positioned we may see stock moving towards the levels of 650 where 200 Daily SMA is lying. The stock hit the high of 658.65 during the week.
If the stock manages to close above the levels of 650 we may see stock moving towards the levels of 665 where 100 Daily SMA is lying.
Support for the stock lies in the zone of 620 to 640 where short term moving averages are positioned.
Broad range for the stock is seen in the range of 610 – 630 on downside to 660 – 680 on upside.