EquityPandit’s Outlook for Cipla for the week (May 27, 2019 – May 31,2019)

CIPLA:

Cipla Ltd.

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

Stock closed the week on positive note gaining +4.85%

Week High: 570.35

Week Low: 543.95

Week Range: 26.40

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 550- 552 levels, Minor resistance on the upside is capped around 572- 573 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 @ 530– 535 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 @ 588- 589

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the week as 588- 589 on upside and 530– 535 on downside.