EquityPandit’s Outlook for Cipla for the week (January 04, 2016 – January 08, 2016):

CIPLA:

CIPLA closed the week on positive note gaining around 1.00%.

As we have mentioned last week that resistance for the stock lies in the zone of 655 to 660 where upward sloping trend-line resistance and 100 & 200 Daily SMA for the stock are positioned. If the stock closes above this levels then the stock can move to the levels of 680 to 700 from where the stock has sold off in the month of October – 2015. During the week the stock manages to hit a high of 660 and close the week around the levels of 655.

Support for the stock lies in the zone of 640 to 645 where short term moving averages are lying. If the stock manages to close below this levels then the stock can drift to the levels of 620 where trend-line support for the stock is positioned.

Resistance for the stock lies in the zone of 655 to 660 where upward sloping trend-line resistance and 100 & 200 Daily SMA for the stock are positioned. If the stock closes above this levels then the stock can move to the levels of 680 to 700 from where the stock has sold off in the month of October – 2015.

Broad range for the stock is seen in the range of 635 – 640 on downside to 665 – 670 on upside.