EquityPandit’s Outlook for Cipla for the week  (Dec 18, 2017 – Dec 22, 2017) :

CIPLA:

CIPLA closed the week on negative note losing around 4.50%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 573 and close the week around the levels of 576.

Support for the stock lies in the zone of 570 to 575 where 200 daily moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of 555 to 560 where the stock has taken multiple support.

Resistance for the stock lies in the zone of 585 to 590 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 605 to 610 where Fibonacci levels are lying.

Broad range for the stock is seen in the range of 555 – 560 on downside & 600 – 605 on upside.