EquityPandit’s Outlook for Cipla for the week  (Nov 20, 2017 – Nov 24, 2017) :

CIPLA:

CIPLA closed the week on absolutely flat note.

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 570 to 575 where medium and 200 daily moving averages are lying. During the week the stock manages to hit a low of 590 and close the week around the levels of 609.

Support for the stock lies in the zone of 585 to 590 where short term moving averages 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.

Resistance for the stock lies in the zone of 605 to 610 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 625 to 630 from where the stock has sold off.

Broad range for the stock is seen in the range of 570 – 580 on downside & 640 – 650 on upside.