OUR RECOMMENDATION
| CMP# | 522.15 |
| Idea | BUY |
| Buy Range | 520 – 525 |
| Target | 550 – 560 |
| StopLoss* | 505 |
| Duration | 20 – 25 Trading Sessions |
| Potential Return^ | 5 – 7% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 522.15 | BUY | 520 – 525 | 550 – 560 | 505 | 20 – 25 Trading Sessions | 5 – 7% |
# CMP on Nov 21, 2018
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 536.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
Cipla Limited, together with its subsidiaries is a leading global pharmaceutical company, dedicated to high-quality, branded and generic medicines. Cipla maintains its focus on three main therapeutic areas: respiratory, urology, and antiretroviral. Based in Mumbai, India the company exports its products to Africa, the Middle East, Latin America, Asia and other continents. In Q2FY19 the company has posted net income of Rs.3947.93 crore and Net Profit of Rs.366.13 crore
| Stock Data | |
| NSE Code | CIPLA |
| Sector | Nifty Pharma |
| 52W High | 678.45 |
| 52W Low | 507.2 |
| Face Value | 2 |
TECHNICAL OBSERVATIONS (WEEKLY)
- As we see in the Weekly chart, the long term trend is positive since 2016. There is a steady support baseline which is moving upwards along with price rise.
- Weekly price is just above the support. Based on historical evidence, go Long from here can be a good idea.
TECHNICAL OBSERVATIONS (DAILY)
- RSI(14) is placed at an extremely oversold zone on the daily time frame indicating a short covering rally may be in the offing.
