EquityPandit’s Outlook for Cipla for the week (November 09, 2015 – November 13, 2015):

CIPLA:

CIPLA closed the week on negative note losing around 4.7%.

As we have mentioned last week that support for the stock lies in the range of 660 to 670 where 100 & 200 Daily SMA are positioned. If the stock closes below the levels of 650 then the stock can drift to the levels of 630 where trend-line support for the stock is lying. During the week the stock manages to hit a low of 651 and bounce to close the week around the levels of 658.

Support for the stock lies in the zone of 650. If the stock closes below this levels then the stock can drift to the levels of 620 where trend-line support for the stock is lying.

Resistance for the stock lies in the zone of 665 to 670 where 100 & 200 Daily SMA are lying. If the stock manages to close above this levels then the stock can move to the levels of 700 where trend-line resistance for the stock is positioned.

Broad range for the stock is seen in the range of 640 – 645 on downside to 670 – 675 on upside.