EquityPandit’s Outlook for Cipla for the week (May 06,2019 – May 10,2019):

CIPLA:

Cipla Ltd.

BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA

Stock closed the week on positive note gaining +0.82%

Week High: 568.45

Week Low: 555.25

Week Range: 13.20

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 555- 557 levels, Minor resistance on the upside is capped around 573- 575 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 540- 542 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 585- 586

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 585- 586 on upside and 540- 542 on downside.