April 21, 2017 / 5:43 AM / 3 months ago

BUZZ-India's Cipla hits 3-1/2-month low, technicals signal further downside

1 Min Read

** Drug maker Cipla Ltd falls as much as 1.98 pct to 562.7 rupees, to its lowest since Jan 3

** Stock breaks below a support around 575 rupees, the 61.8 pct Fibonacci projection of wave 1 tmsnrt.rs/2oXeva9

** Stock has also broken below the support from its 200-day Simple Moving Average, seen bearish for the stock

** Trend Intensity indicator (TI) at 20 indicate stock is in downtrend. MACD is also negative and below its signal line

** Stock is marginally up 0.92 pct this year as of Thursday's close, compared with a 11.61 pct gain for the NSE Index

RM: gaurav.dogra.thomsonreuters.com@reuters.net

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below