Cipla Outlook for the Week (Oct 12,2020 – Oct 16,2020)


For the Week: (Oct 12,2020 – Oct 16,2020)

8 CIPLA

BSE: 500087| NSE: CIPLA| ISIN: INE059A01026| SECTOR: PHARMA

Stock closed the Weekly on positive note gaining +3.90%

Cipla Share Price: 803.15 (NSE)

Weekly High: 825.00

Weekly Low: 762.05

Weekly Range: 62.95 points

Weekly Support & Resistance For CIPLA:

RESISTANCE 2 854.00
RESISTANCE 1 832.00
SUPPORT 1 750.00
SUPPORT 2 730.00

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 750 levels, Minor resistance on the upside is capped around 832 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 @ 730 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 700 on downside.

On Cipla, stock on support line and try to regain, stock fill the gap in the daily chart it will give support to the chart, RSI technical indicator show that stock in overselling zone and may come up.