EquityPandit’s Outlook for Cipla for the week (Mar 18, 2019 – Mar 22, 2019) :
BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA
Stock closed the week on negative note losing -1.44%
Week High: 539.85
Week Low: 531.75
Week Range: 8.10
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for CIPLA at 510-520 levels, whereas minor resistance on the upside is capped around 550- 560 levels.
If stock breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next Major support levels lower side around 470- 475 if stock breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 590- 595
Currently trend for the stock is bearish as stock trading below 200 days exponential moving average.. EquityPandit’s predicts CIPLA range for the week is seen from 590- 595 on upside & 470- 475 on downside.