EquityPandit’s Outlook for Cipla for the week  (Nov 27, 2017 – Dec 01, 2017) :

CIPLA:

CIPLA closed the week on positive note gaining around 1.20%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 626 and close the week around the levels of 616.

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 585 to 590 where short term moving averages are lying.

Resistance for the stock lies in the zone of 625 to 630 from where the stock has sold off. If the stock manages to close above these levels then the stock can move to the levels of 645 to 650.

Broad range for the stock is seen in the range of 580 – 590 on downside & 640 – 650 on upside.