EquityPandit’s Outlook for Cipla for the week  (Dec 26, 2017 – Dec 29, 2017) :

CIPLA:

CIPLA closed the week on positive note gaining around 4.30%.

As we have mentioned last week, that resistance for the stock lies in the zone of 585 to 590 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 605 to 610 where Fibonacci levels are lying. During the week the stock manages to hit a high of 611 and close the week around the levels of 601.

Support for the stock lies in the zone of 585 to 590 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of 570 to 575 where 200 daily moving averages are lying.

Resistance for the stock lies in the zone of 610 to 615 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 625 to 630.

Broad range for the stock is seen in the range of 570 – 575 on downside & 630 – 635 on upside.