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

CIPLA:

CIPLA closed the week on negative note losing around 13.20%.

As we have mentioned last week, that support for the stock lies in the zone of 600 to 610 where long term moving averages and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can move to the levels of 570 to 580 where Fibonacci levels are lying. During the week the stock manages to hit a low of 524 and close the week around the levels of 527.

Support for the stock lies in the zone of 520 to 525 where long term Fibonacci levels are lying. If the stock manages to close below these levels then the stock can move to the levels of around 500 to 505 where low for the month of May-2018 is lying.

Minor resistance for the stock lies around 535 to 540. Resistance for the stock lies in the zone of 555 to 560 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 575 to 580.

Broad range for the stock is seen in the range of 490 – 500 on downside & 560 – 570 on upside.