EquityPandit’s Outlook for Cipla for the week (June 27, 2016 – July 01, 2016):

CIPLA:

CIPLA closed the week on negative note losing around 2.00%.

As we have mentioned last week that minor support for the stock lies in the zone of 480. Support for the stock lies in the zone of 450 to 460 from where the stock has broken out of the multi month consolidation in the month of Aug – 2014. If the stock manages to close below these levels then the stock can drift to the levels of 400 to 410. During the week the stock manages to hit a low of 460 and close the week around the levels of 476.

Support for the stock lies in the zone of 450 to 460 from where the stock has broken out of the multi month consolidation in the month of Aug – 2014. If the stock manages to close below these levels then the stock can drift to the levels of 400 to 410.

Resistance for the stock lies in the zone of 495 to 500 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 520 to 530 where 100 Daily SMA is lying.

Broad range for the stock is seen in the range of 455 – 460 on downside to 495 – 500 on upside.