OUR RECOMMENDATION
| CMP# | 547.55 |
| Idea | BUY |
| Buy Range | 547 – 552 |
| Target | 576 – 605 |
| StopLoss* | 510 |
| 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#
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. Net profit dipped 20 percent year-on-year to Rs 323 crore.
| Stock Data | |
| NSE Code | CIPLA |
| Sector | Nifty Pharma |
| 52W High | 678.45 |
| 52W Low | 483.75 |
| 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.
- 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.
