EquityPandit’s Outlook for Cipla for the week  (Apr 23, 2018 – Apr 27, 2018) : 

CIPLA:

CIPLA closed the week on positive note gaining around 6.00%.

As we have mentioned last week, that minor support for the stock lies in the zone of 550 to 555. Support for the stock lies in the zone of 530 to 535 where the stock has taken multiple support in the month of March-2018. If the stock manages to close below these levels then the stock can move to the levels of 520 to 525 where long term Fibonacci levels are lying. During the week the stock manages to hit a low of 553 and close the week around the levels of 589.

Minor support for the stock lies in the zone of 575 to 580. Support for the stock lies in the zone of 565 to 570 where short term moving averages and break out levels are lying. If the stock manages to close below these levels then the stock can move to the levels of 550 to 555 where break out levels are lying.

Resistance for the stock lies in the zone of 590 to 600 where Fibonacci levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 610 to 620 where long term Fibonacci levels are lying.

Broad range for the stock is seen in the range of 560 – 565 on downside & 610 – 615 on upside.