EquityPandit’s Outlook for Cipla for the week  (Mar 05, 2019 – Mar 08, 2019) : 

CIPLA:

CIPLA closed the week on positive note gaining around 2.00%

As we have mentioned last week, that resistance for the stock lies in the zone of 545 to 550 where Fibonacci levels and gap are lying. If the stock manages to close above these levels then the stock can move to the levels of 565 to 570 where Fibonacci levels and long term moving averages are lying. During the week the stock manages to hit a high of 558 and close the week around the levels of 552.

Support for the stock lies in the zone of 540 to 545 where break out levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of around 525 to 530 where Fibonacci levels and short term moving averages are lying.

Resistance for the stock lies in the zone of 555 to 560 where long term moving averages and gap are lying. If the stock manages to close above these levels then the stock can move to the levels of 565 to 570 where Fibonacci levels are lying.

Broad range for the stock is seen in the range of 530 – 535 on downside & 565 – 570 on upside.