CIPLA Weekly Outlook and Analysis:

For the Week: (Aug 17,2020 – Aug 21,2020)

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

Stock closed the Weekly on positive note gaining +5.92%

Cipla Share Price: 771.80 (NSE)

Weekly High: 814.50

Weekly Low: 751.35

Weekly Range: 63.15 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 819 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 @ 850.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 860 on upside and 665 on downside.

Cipla has witnessed ran away gap in the last week opening and stock seen selling pressure at 819- 820 levels. Stock has formed higher highs and higher lows patterns, Once Gap on the charts is filled we may see stock heading toward higher levels and out performance of the stock can continue.