EquityPandit’s Outlook for Cipla for the week  (Feb 18, 2019 – Feb 22, 2019) : 

CIPLA:

CIPLA closed the week on positive note gaining around 1.30%.

As we have mentioned last week, that support for the stock lies in the zone of 525 to 530 where Fibonacci levels and short term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of around 500 to 505 where low for the month of May-2018 and December-2018 is lying. During the week the stock manages to hit a low of 528 and close the week around the levels of 541.

Support for the stock lies in the zone of 525 to 530 where Fibonacci levels and short term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of around 500 to 505 where low for the month of May-2018 and December-2018 is lying.

Resistance for the stock lies in the zone of 545 to 550 where Fibonacci levels and gap are lying. If the stock manages to close above these levels then the stock can move to the levels of 565 to 570 where Fibonacci levels and long term moving averages are lying.

Broad range for the stock is seen in the range of 510 – 520 on downside & 560 – 570 on upside.