Cipla Limited has broken the rising trend up in the medium long term. This signals an even stronger rate of growth, but the positive development may result in corrections down in the short term. The price has also broken a resistance level and given a positive signal for the long-term trading range. The stock has marginally broken up through resistance at rupee 1173. An established break predicts a further rise. Positive volume balance shows that volume is higher on days with rising prices than days with falling prices. This indicates increasing optimism among investors.
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The short term momentum of the
stock is strongly positive, with RSI above 70.
This indicates increasing optimism among
investors and further price increase for Cipla
Limited. However, particularly for big stocks,
high RSI may be a sign that the stock is
overbought and that there is a chance of a
reaction downwards. The stock is overall
assessed as technically positive for the
medium long term.
