Buy Cipla Near Support – 5/25/2016

Buy Cipla Near Support – 5/25/2016

After spending almost two years in stratosphere, Cipla is coming back to earth.  Our bias is that Indian Pharma sector will continue to grow.  That means, we should buy good pharma stocks when everybody is selling.  Yesterday’s bad result will be forgotten sooner or later and we will be back to talking about growth.  Of course, we are not sure when the slide in the stock will end eventually but, support level near 400 is good to get long.  Because even if they are destined to go much lower, it is not going to be in straight line.  We are going to trade actively between 375 and 425 support zone from long / buy side.

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Cipla_Weekly_Chart_May_25_2016

Cipla_Weekly_Chart_May_25_2016