Stock of the day : Cipla Ltd for Target Rs.1280 - Religare Broking Ltd
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CIPLA Ltd
* Seeing recovery in the pharma pack and Cipla is trading in line with trend.
* Formed a base around the support zone of short term moving average i.e. 20 EMA.
* Chart pattern combined with buoyancy in the pharma pack is pointing towards breakout.
* We thus recommend creating fresh longs in the mentioned range
BUY CIPLA Ltd CMP (?)1216.45; Range* 1215-1220; SL 1190; Target 1280
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SEBI Registration number is INZ000174330
