EquityPandit’s Outlook for Cipla for the week  (July 10, 2017 – July 14, 2017) :

CIPLA:

CIPLA closed the week on negative note losing around 1.50%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 540 and close the week around the levels of 547.

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 552 to 555. 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 520 – 525 on downside & 565 – 570 on upside.