EquityPandit’s Outlook for Cipla for the week  (Apr 16, 2018 – Apr 20, 2018) : 

CIPLA:

CIPLA closed the week on negative note losing around 0.70%.

As we have mentioned last week, that resistance for the stock lies in the zone of 565 to 570. If the stock manages to close above these levels then the stock can move to the levels of 580 to 585 where short & long term moving averages are lying. During the week the stock manages to hit a high of 567 and close the week around the levels of 555.

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.

Resistance for the stock lies in the zone of 565 to 570. If the stock manages to close above these levels then the stock can move to the levels of 580 to 585 where short & long term moving averages are lying.

Broad range for the stock is seen in the range of 530 – 535 on downside & 580 – 585 on upside.