EquityPandit’s Outlook for Cipla for the week (October 26, 2015 – October 30, 2015):

CIPLA:

CIPLA closed the week on positive note gaining around 0.4%.

As we have mentioned last week that support for the stock lies in the range of 650 to 660 where 100 & 200 Daily SMA are positioned. If the stock closes below the levels of 650 then the stock can drift to the levels of 630 where trend-line support for the stock is lying. During the week the stock manages to hit a low of 658 and bounce to close the week around the levels of 682.

Support for the stock lies in the range of 650 to 660 where 100 & 200 Daily SMA are positioned. If the stock closes below the levels of 650 then the stock can drift to the levels of 630 where trend-line support for the stock is lying.

Stock can face minor resistance around the zone of 700 where trend-line resistance for the stock is lying. If the stock manages to close above the levels of 710 then the stock can move to the levels of 740 where trend-line joining earlier highs is positioned.

Broad range for the stock is seen in the range of 650 – 660 on downside to 700 – 710 on upside.