EquityPandit’s Outlook for Cipla for the week (Dec 16, 2019 – Dec 20, 2019):

CIPLA:

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

Stock closed the week on positive note gaining +1.27%

Week High: 465.00

Week Low: 444.60

Week Range: 20.40 points

Cipla Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 448 levels, Minor resistance on the upside is capped around 472levels.

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 @ 438 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 @ 483.

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the week as 485 on upside and 435 on downside.