EquityPandit’s Outlook for Cipla for the week  (July 24, 2017 – July 28, 2017) :

CIPLA:

CIPLA closed the week on positive note gaining around 3.30%.

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 577 and close the week around the levels of 566.

Minor support for the stock lies in the zone of 555 to 560. Support for the stock lies in the zone of 545 to 550 where short term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of 530 to 535.

Resistance for the stock lies in the zone of 570 to 575 where long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 585 to 590.

Broad range for the stock is seen in the range of 540 – 545 on downside & 585 – 590 on upside.