EquityPandit’s Outlook for Cipla for the week  (Nov 06, 2017 – Nov 10, 2017) :

CIPLA:

CIPLA closed the week on positive note gaining around 2.40%.

As we have mentioned last week, that support for the stock lies in the zone of 605 to 610 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can move to the levels of 560 to 565 where 200 daily moving averages are lying. During the week the stock manages to hit a low of 615 and close the week around the levels of 640.

Minor support for the stock lies in the zone of 620 to 625. Support for the stock lies in the zone of 605 to 610 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can move to the levels of 560 to 565 where 200 daily moving averages are lying.

Resistance for the stock lies in the zone of 645 to 650. If the stock manages to close above these levels then the stock can move to the levels of 660 to 665 from where the stock has broken down in January-2016.

Broad range for the stock is seen in the range of 610 – 620 on downside & 665 – 670 on upside.