Technical Analysis of Indian Equities by Nooresh

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Cipla – Defensive Investment pick for 1 year

CIPLA - Buy

 

Quick Technical View:

 

-> Technically Cipla is testing the 5-6 year trendline which we expect would breakout on the upside in the future.

 

-> At current levels of 410 the short term breakout is at 415-420 above which can see a quick spurt to 450. ( this is the short term idea generated today )

 

-> Given its a pharma stock comes into low beta gives us a good risk-reward opportunity. Fundamentally things are changing as per a quick analysis.

 

-> Personal expectation is in the next 1-2 years the stock can go the Hindustan Unilever way ( Had been recommending from 270-330 ) . Can surprise beyond the targets mentioned.

 

-> A must in a large cap portfolio for long term.

 

Disclosure: Invested with a long term view and trading regularly only on the long side πŸ™‚ and a personal favorite.

 

Nooresh Merani

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Article by Nooresh Merani

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{ 1 comment… add one }
  • Bala May 29, 2013, 19:29

    Hi Nooresh,

    What is your take on CIPLA after the Q4 result

    Regards..bala

    Reply

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