EquityPandit’s Outlook for Cipla for week (July 20, 2015 – July 24, 2015):

CIPLA:

CIPLA closed the week on positive note gaining more than 5%.

During the week stock manage to cross above the 100 Daily and 200 Daily SMA effortlessly and close the week on virtually high point of 685 levels.

As seen from the chart the next resistance for the stock lies in the zone of 700 to 720 levels where lower end of upward moving channel is positioned.

Support for the stock lies in the zone of 650 to 660 where short term moving averages and 100 Daily SMA are positioned.

Broad range for the stock is seen in the range of 640 – 660 on downside to 700 – 720 on upside.