EquityPandit’s Outlook for Cipla for the week  (July 03, 2017 – July 07, 2017) :

CIPLA:

CIPLA closed the week on positive note gaining around 2.80%.

As we have mentioned last week that minor support for the stock lies in the zone of 535 to 540. Support for the stock lies in the zone of 518 to 522 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can move to the levels of 500 to 505. During the week the stock manages to hit a low of 531 and close the week around the levels of 556.

Minor support for the stock lies in the zone of 540 to 545. Support for the stock lies in the zone of 520 to 525 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can move to the levels of 500 to 505.

Resistance for the stock lies in the zone of 560 to 562. If the stock manages to close above these levels then the stock can move to the levels of 570 to 575 where medium term and long term moving averages are lying.

Broad range for the stock is seen in the range of 530 – 535 on downside & 575 – 580 on upside.