EquityPandit’s Outlook for Cipla for the week  (Sep 04, 2017 – Sep 08, 2017) :

CIPLA:

CIPLA closed the week on negative note losing around 1.00%.

As we have mentioned last week, that support for the stock lies in the zone of 563 to 567. Support for the stock lies in the zone of 550 to 555 where short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of 530 to 535 where the stock has formed a low for the month of July-2017. During the week the stock manages to hit a low of 562 and close the week around the levels of 568.

Support for the stock lies in the zone of 563 to 567. Support for the stock lies in the zone of 550 to 555 where short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of 530 to 535 where the stock has formed a low for the month of July-2017.

Resistance for the stock lies in the zone of 578 to 582. If the stock manages to close above these levels then the stock can move to the levels of 595 to 600 where the stock has formed a short term top.

Broad range for the stock is seen in the range of 540 – 545 on downside & 595 – 600 on upside.