EquityPandit’s Outlook for Cipla for the week  (July 17, 2017 – July 21, 2017) :

CIPLA:

CIPLA closed the week on absolutely flat note.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 553 and close the week around the levels of 548.

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.