Cipla Outlook for the Week (Aug 03,2020 – Aug 07,2020)

Technically on the daily charts EquityPandits Analyst see: Minor assistance on the drawback lies at 669 levels, Minor resistance on the benefit is topped around 735 levels.

ASSISTANCE 2.
650.00.

Week Range: 79.75 points.

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 @ 650 and If stock breaches small resistance on the advantage and closes above it we might see fresh breakout and stock can head towards Major Resistances Level @ 750.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit forecasts variety for the week as 750 on advantage and 650 on drawback.

RESISTANCE 1.
735.00.

SECTOR: PHARMA.

For the Week: (Aug 03,2020– Aug 07,2020).

Week Low: 644.25.

CIPLA Weekly Support & & Resistance Levels:.

RESISTANCE 2.
750.00.

Cost is presently near the resistance. If breaks the channel Resistance we can see more upmove, however this resistance can likewise halt this bull run for the week.

SUPPORT 1.
669.55.

Cipla Share Price: 720.15 (NSE).

Cipla is trading in between channel as marked on the chart. The stock is revolving in between the channel. Rate is currently near the resistance. If breaks the channel Resistance we can see more upmove, but this resistance can also halt this bull run for the week.

SECTOR: PHARMA.

Week High: 724.00.

Stock closed the week on positive note getting +8.12%.