Cipla can rally to Rs 355-360: Atul Badkar

Badkar told CNBC-TV18, "The strategy on Cipla is not just for today but by and large the entire pharmaceutical pack has been showing strength. In this kind of a volatile market money is still very much hiding both in pharma and FMCG. Our sense is that it will continue hiding there and Cipla from pure technical or if one sees the open interest build-up it is doing well. At around Rs 330, this stock can rally up to Rs 355-360. One can keep a stop of about 2% lower. So we feel Cipla and Lupin will continue to do well in the next few weeks."

Cipla touched its 52-week high Rs 359.00 and 52-week low Rs 273.60 on 07 Feb, 2012 and 06 Sep, 2011, respectively.
 
Currently, it is trading -7.45% below its 52-week high and 21.44% above its 52-week low.
 
Market capitalisation stands at Rs 26,677.06 crore.