EquityPandit’s Outlook for Cipla for the week  (Jan 29, 2018 – Feb 02, 2018) : 

CIPLA:

CIPLA closed the week on positive note gaining around 3.00%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 610 to 615. Resistance for the stock lies in the zone of 625 to 630 where the stock has formed a double top. 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 631 and close the week around the levels of 621.

Minor support for the stock lies in the zone of 610 to 615. Support for the stock lies in the zone of 595 to 600 where break out levels and 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 low for the month of December-2017 and long term moving averages are lying.

Resistance for the stock lies in the zone of 625 to 630 where the stock has formed a double top. If the stock manages to close above these levels then the stock can move to the levels of 645 to 650.

Broad range for the stock is seen in the range of 590 – 595 on downside & 640 – 645 on upside.