EquityPandit’s Outlook for Cipla for the week (May 13, 2019 – May 17,2019):
BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA
Stock closed the week on positive note losing -1.11%
Week High: 678.00
Week Low: 483.75
Week Range: 11.45
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 550- 552 levels, Minor resistance on the upside is capped around 572- 573 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 540- 542 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 588- 589
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the week as 588- 589 on upside and 540- 542 on downside.