EquityPandit’s Outlook for Cipla for the week  (Feb 12, 2018 – Feb 16, 2018) : 

CIPLA:

CIPLA closed the week on positive note gaining around 6.90%.

As we have mentioned last week, that resistance for the stock lies in the zone of 595 to 600 where short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 625 to 630 where the stock has formed a double top. During the week the stock manages to hit a high of 626 and close the week around the levels of 621.

Support for the stock lies in the zone of 595 to 600 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 570 to 575 where low for the month of December-2017 and long term moving averages are lying.

Resistance for the stock lies in the zone of 625 to 630 where the stock has formed a double top. If the stock manages to close above these levels then the stock can move to the levels of 645 to 650.

Broad range for the stock is seen in the range of 570 – 575 on downside & 650 – 655 on upside.