EquityPandit’s Outlook for Cipla for the week  (Nov 13, 2017 – Nov 17, 2017) :

CIPLA:

CIPLA closed the week on negative note losing around 4.80%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 602 and close the week around the levels of 609.

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 570 to 575 where medium and 200 daily moving averages are lying.

Minor resistance for the stock lies in the zone of 625 to 630. 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 570 – 580 on downside & 640 – 650 on upside.