Stock of the day : Cipla Ltd For Target Rs. 30 - Religare Broking Ltd
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Cipla Ltd.
* Pharma pack is witnessing profit booking and CIPLA is trading insync.
* It has registered a breakdown from sideways consolidation and closed below its short term average.
* Stock has witnessed a breakdown from Squeeze Bollinger bands indicates profit booking to extend further.
* We thus recommend initiating fresh shorts through the Put option.
Buy Cipla Ltd. CMP 11.45; Range 11-12; SL 3; Target 30
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