EquityPandit’s Outlook for Cipla for the week  (Dec 04, 2017 – Dec 08, 2017) :

CIPLA:

CIPLA closed the week on negative note losing around 2.90%.

As we have mentioned last week, that resistance for the stock lies in the zone of 625 to 630 from where the stock has sold off. If the stock manages to close above these levels then the stock can move to the levels of 645 to 650. During the week the stock manages to hit a high of 622 and close the week around the levels of 598.

Support for the stock lies in the zone of 585 to 590 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of 570 to 575 where 200 daily moving averages are lying.

Resistance for the stock lies in the zone of 605 to 610 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 625 to 630 from where the stock has sold off.

Broad range for the stock is seen in the range of 570 – 575 on downside & 620 – 625 on upside.