EquityPandit’s Outlook for Cipla for the week (April 22,2019 – April 26,2019):
BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMAStock closed the week on positive note gaining +2.90%
Week High: 566.10
Week Low: 544.35
Week Range: 21.75
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for CIPLA at 558- 560 levels, whereas minor resistance on the upside is capped around 570- 575 levels.
If stock breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next Major support levels lower side around 545- 550 if stock breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 580- 585
Currently trend for the stock is bullish as stock trading above 200 days exponential moving average.
EquityPandit’s predicts CIPLA range for the week is seen from 580- 585 on upside & 545- 550 on downside.