EquityPandit’s Outlook for Cipla for the week (June 10, 2019 – June 14, 2019):
BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA
Stock closed the week on negative note losing –2.50%
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 545 levels, Minor resistance on the upside is capped around 565 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 @ 528 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
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 588 on upside and 528 on downside.