|Buy Range||547 – 552|
|Target||576 – 605|
|Duration||25 – 30 Trading Sessions|
|Potential Return^||10 – 13%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|547.55||BUY||547 – 552||576 – 605||510||25 – 30 Trading Sessions||5 – 10%|
# CMP on Mar 06, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 562.
^ The returns are calculated based on CMP#
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. Net profit dipped 20 percent year-on-year to Rs 323 crore.
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.
- There is a false breakout in December 2018 and the stock managed to take it’s position again for last 4 weeks. This indicates that the stock looks set to continue the next leg of its uptrend.
TECHNICAL OBSERVATIONS (DAILY)
- Higher Tops and Higher Bottoms at Daily Charts.
- Last few days stock is trading above the 15 days MA and recent closing neat MA m
- Recent price movement near the Upper Bollinger Band showing confidence in my view.