EquityPandit’s Outlook for Cipla for the week  (Sep 11, 2017 – Sep 15, 2017) :

CIPLA:

CIPLA closed the week on negative note losing around 3.00%.

As we have mentioned last week, that resistance for the stock lies in the zone of 578 to 582. If the stock manages to close above these levels then the stock can move to the levels of 595 to 600 where the stock has formed a short term top. During the week the stock manages to hit a high of 577 and close the week around the levels of 552.

Support for the stock lies in the zone of 545 to 550 where the stock has taken multiple support. If the stock manages to close below these levels then the stock can move to the levels of 530 to 535 where the stock has formed a low for the month of July-2017.

Resistance for the stock lies in the zone of 558 to 562 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 575 to 580 where the stock has formed a short term top.

Broad range for the stock is seen in the range of 530 – 535 on downside & 575 – 580 on upside.