Pharma loser-CIPLA below 480 remain super bearish tgt 460-432

Cipla Ltd future chart Cipla Ltd stock today trading at 471 with loss of almost 5%. Stock below 480 will remain super bearish. Stock after breakdown below 526 achieved my tgts of 508 and 478 and now trading below them.   Future traders below 480 keep sell on rise view for tgts 460 and then possibly 432 for month of May.   From long term view, if CIPLA stock gives closing below 480 then expect 385 and 296 levels on chart till end of 2016.

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Pramod Baviskar

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