Signals, Powered By EquityPandit
EquityPandit’s Outlook for Cipla for the week (Sept 2, 2019 – Sept 6, 2019):
CIPLA:
Cipla Ltd.
BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA
Stock closed the week on positive note gaining +1.41%
Week High: 476..00
Week Low: 454.90
Week Range: 21.30 points
| RESISTANCE 2 | 489.15 |
| RESISTANCE 1 | 480.80 |
| SUPPORT 1 | 459.50 |
| SUPPORT 2 | 446.55 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 449 levels, Minor resistance on the upside is capped around 483.50 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 @ 430 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 @ 504.
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the week as 429 on upside and 505 on downside.
