EquityPandit’s Outlook for Cipla for the week(April 08, 2019 – April 12, 2019):
BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA
Stock closed the week on positive note gaining 0.89%
Week High: 534.00
Week Low: 520.20
Week Range: 13.80
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for CIPLA at 520- 515 levels, whereas minor resistance on the upside is capped around 535- 540 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 500- 505 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 555- 560
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 555- 560 on upside & 500- 505 on downside.