Technical Analysis of Indian Equities by Nooresh

Cipla – Bouncing back from supports

Cipla

 

Cipla Technical View :

 

-> This stock has been one tricky one. At 440 it gives a false breakout and at 380 a false breakdown.

 

-> For now the stock is about to cross a strong trendline above 410. If that is crossed one can be looking at a quick move to 430-440 in short term.

 

-> Overall have been pretty bullish on the company for long term but the stock has been a laggard for last 3-6 months. But continue to believe the long term looks pretty exciting.

 

-> Investors can continue to hold and add. Short term trades can buy with a stoploss of 390.

 

 

Thanks and Regards,

Nooresh Merani

www.analyseindia.com

Twitter – https://twitter.com/nooreshtech

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Article by Nooresh Merani

Nooresh has written 2609 articles.

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