EquityPandit’s Outlook for Cipla for the week  (Aug 21, 2017 – Aug 25, 2017) :

CIPLA:

CIPLA closed the week on positive note gaining around 4.40%.

As we have mentioned last week, that resistance for the stock lies in the zone of 550 to 555 where short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 570 to 575 where long term moving averages are lying. During the week the stock manages to hit a high of 594 and close the week around the levels of 565.

Support for the stock lies in the zone of 550 to 555 where short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of 530 to 535 where the stock has formed a low for the month of July-2017.

Resistance for the stock lies in the zone of 565 to 570 where long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 590 to 595.

Broad range for the stock is seen in the range of 520 – 525 on downside & 595 – 600 on upside.