Cipla is Safe Heaven Stock, A Must have Stock in Investment Portfolio, Buy CIPLA on Dips

Cipla Ltd. being one of the largest pharma company has achieved leadership in this sector in India as well as in countries like US, UK and European region. The stock performance of this company attracts almost every fund manager, this is also my favorite from the pharma pack. Looking at the daily chart of CIPLA we see that the stock has been trending in upward direction, and we don’t see any barriers in this trend we are confident enough that the up trend will continue for some more years as we move on. So our advice will be to keep looking for buying opportunities in this stock as long as it stays above 315 level, initial entry can be at 320 zone. The buy targets for this stock will be at 350 and 380, as this is one of the defensive stock so targets are small. Investors must also place their protective stop loss orders below the 296 level. High risk traders can place their trades on CALL option of this stock, but remember there is always significant risk in trading the naked stock options and trader may loose entire amount invested.
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About Bhaveek Patel

Bhaveek Patel is a technical analyst and investor, his areas of interest includes stock market, forex, gold.


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