EquityPandit’s Outlook for Cipla for the week  (Mar 05, 2018 – Mar 09, 2018) : 

CIPLA:

CIPLA closed the week on negative note losing around 2.30%.

As we have mentioned last week, that support for the stock lies in the zone of 595 to 600 where short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of 570 to 575 where low for the month of December-2017 and long term moving averages are lying. During the week the stock manages to hit a low of 580 and close the week around the levels of 582.

Support for the stock lies in the zone of 570 to 575 where long term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of 550 to 555 where the stock has formed a bottom in the month of February-2018.

Resistance for the stock lies in the zone of 595 to 605 where short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 625 to 630 where the stock has formed a double top.

Broad range for the stock is seen in the range of 550 – 555 on downside & 610 – 615 on upside.