Signals, Powered By EquityPandit
CIPLA Weekly Outlook and Analysis:
For the Week: (Sept 21,2020 – Sept 25,2020)
BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA
Stock closed the Weekly on positive note gaining +11.06%
Cipla Share Price: 806.25 (NSE)
Weekly High: 819.30
Weekly Low: 717.75
Weekly Range: 101.55 points
Weekly Support & Resistance For CIPLA:
| RESISTANCE 2 | 854.00 |
| RESISTANCE 1 | 832.00 |
| SUPPORT 1 | 772.00 |
| SUPPORT 2 | 750.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 772 levels, Minor resistance on the upside is capped around 732 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 @ 750 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 @ 854.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 860 on upside and 740 on downside.
Last week pharma stock have shown a good strength holding the Index up and CIPLA tested all time high levels, Till stock hold levels of 790, suggested to buy on the stock for the upside targets of 850-880.
