EquityPandit’s Outlook for Cipla for the week (June 01, 2019 – June 07, 2019):
BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA
Stock closed the week on positive note gaining +4.85%
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 551 levels, Minor resistance on the upside is capped around 571 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 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 @ 584
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 584 on upside and 540 on downside.