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Buy Cipla for target of Rs 280-285: Arihant

Posted on: July 14th, 2009 and is filed under Brokerage Recommendations.

MUMBAI: Arihant Capital Market has advised traders to buy Cipla for target of
Rs 280-285.

“The 14 days Moving Average of Cipla is at Rs 256. On the daily charts, the stock is in buy on RSI and its 14-days RSI is currently at 70 (above 50 is consider to be in strong hands).

The stock is looking strong on the daily chart and has formed a Trend Reversal Pattern on EOD chart. One can buy it at around Rs 267.60 with closing below stop loss of Rs 256 for a target price of Rs 280-285,” said the report.

source: Economcitimes

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