CIPLA Weekly Outlook and Analysis:
For the Week: (May 10, 2021 – May 14, 2021)
BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA
The stock closed the Weekly on a negative note losing -3.02%
Cipla Share Price: 882.90 (NSE)
Weekly High: 924.40
Weekly Low: 869.00
Weekly Range: 55.40 points
Weekly Support & Resistance For Cipla Pharma:
| RESISTANCE 2 | 1010 |
| RESISTANCE 1 | 965 |
| SUPPORT 1 | 785 |
| SUPPORT 2 | 730 |
Technically on the daily charts, EquityPandit’s Analyst sees: Minor support on the downside lies at 785 levels, Minor resistance on the upside is capped around 965 levels.
If stock breaches minor support on the downside and closes below it we may see a fresh break down and stock can drag towards Major Support on the lower side @ 730 and If stock breaches minor resistance on the upside and closes above it we may see a fresh breakout and stock can head towards Major Resistances Level @ 1010.
Stock is trading above 200 days exponential moving average, which suggests the long term trend is bullish. EquityPandit predicts the range for the Weekly as 1050 on the upside and 700 on the downside.
On Cipla, stock on an uptrend and break upward level with positive strength technical indicators also on the positive side with stock in next few trading session stock higher levels.
