CIPLA

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Shall I en­ter Cipla as it has fallen dras­ti­cally in the last cou­ple of months?

- Amit Javiya

AVOID BUY­ING CIPLA FOR NOW.

Cipla Ltd is cur­rently trad­ing at 527.75. Its 52-week high/low stand at Rs 678/Rs 503.95 made on Septem­ber 19, 2018 and De­cem­ber 10, 2018, re­spec­tively. Since last three years, the stock has been trad­ing in a nar­row con­sol­i­da­tion. Af­ter reg­is­ter­ing its 52-week high, the stock has fallen sharply with high vol­umes, mak­ing se­ries of lower lows. Con­sid­er­ing the daily time frame, the stock is trad­ing be­low its cru­cial long term mov­ing av­er­age, i.e. 200-day ex­po­nen­tial mov­ing av­er­age. The 14-pe­riod day RSI is quot­ing around 44.20 and it has not able to cross above the 60 mark since Septem­ber 26, 2018. How­ever, the vol­umes and os­cil­la­tors are too poor to sug­gest any mo­men­tum, for now. Con­sid­er­ing all the above fac­tors, we rec­om­mend you to avoid buy­ing Cipla for now.

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