Accumulate Cipla, target Rs 347-348: Angel Broking

Shardul Kulkarni of Angel Broking advised accumulating Cipla at current levels, with a target of Rs 347-348.

Kulkarni told CNBC-TV18, "Cipla is one stock wherein we see good momentum taking place over the next 2-3 weeks. So the buying range in this case would be between Rs 325-330, stop loss should be placed at Rs 318 and a target price that we are looking at is at Rs 347-348. Overall the chart structure is quite bullish. The stock has managed to close above the 200 DMA in the last 3-4 sessions. And from sideways range on weekly charts we would expect a breakout above the levels of Rs 330. So buying or accumulation can be done at current levels."