CIPLA Weekly Outlook and Analysis:

For the Week: (Sept 07,2020 – Sept 11,2020)

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

Stock closed the Weekly on negative note losing –3.21%

Cipla Share Price: 724.60 (NSE)

Weekly High: 755.70

Weekly Low: 705.20

Weekly Range: 50.50 points

Weekly Support & Resistance For Sun Pharma:

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 706 levels, Minor resistance on the upside is capped around 773 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 @ 679 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 @ 803.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 850 on upside and 665 on downside.

Stock looks to be trading at overbought levels overall trend is still up and stock may see profit booking and should be accumulated only at lower levels.