Technical Analysis of Indian Equities by Nooresh

Cipla – Bouncing back from supports



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

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Article by Nooresh Merani

Nooresh has written 2774 articles.

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