EquityPandit’s Outlook for Cipla for the week  (Sep 18, 2017 – Sep 22, 2017) :

CIPLA:

CIPLA closed the week on positive note gaining around 1.60%.

As we have mentioned last week, that support for the stock lies in the zone of 545 to 550 where the stock has taken multiple support. 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 543 and close the week around the levels of 561.

Support for the stock lies in the zone of 545 to 550 where the stock has taken multiple support. 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 560 to 565 where 200 daily moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 575 to 580 where the stock has formed a short term top.

Broad range for the stock is seen in the range of 540 – 545 on downside & 575 – 580 on upside.