Signals, Powered By EquityPandit
CIPLA Weekly Outlook and Analysis:
For the Week: (Sept 04,2020 – Sept 18,2020)
BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA
Stock closed the Weekly on positive note gaining +0.19%
Cipla Share Price: 725.95 (NSE)
Weekly High: 735.90
Weekly Low: 704.40
Weekly Range: 31.50 points
Weekly Support & Resistance For Sun Pharma:
| RESISTANCE 2 | 803.00 |
| RESISTANCE 1 | 773.00 |
| SUPPORT 1 | 706.00 |
| SUPPORT 2 | 679.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 706 levels, Minor resistance on the upside is capped around 773 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 679 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 803.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 850 on upside and 665 on downside.
Stock is holding the support levels on the daily charts forming falling channel pattern, once breaks the channel pattern resistance stock again retest levels of 800-820.
