CIPLA Weekly Outlook and Analysis:

For the Week: (Aug 03,2020 – Aug 07,2020)

BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA

Stock closed the week on positive note gaining +8.12%

Cipla Share Price: 720.15 (NSE)

Week High: 724.00

Week Low: 644.25

Week Range: 79.75 points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 669 levels, Minor resistance on the upside is capped around 735 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 650 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 750.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 750 on upside and 650 on downside.

Cipla is trading between channel as marked on the chart. The stock is revolving between the channel. Price is currently near the resistance. If breaks the channel Resistance we can see further upmove, but this resistance can also halt this bull run for the week.

CIPLA Weekly Support & Resistance Levels: