Shardul Kulkarni of Angel Broking told CNBC-TV18, "Cipla gave a good breakout in yesterday's trading session and today there is follow up buying which is already clearly seen on the charts. I think the stock can move towards Rs 430, so any decline in the stock price over the next couple of days probably towards Rs 410 or even Rs 408 should be used to buy. The stoploss would be at Rs 400, the upside potential is at Rs 430-435."
At 14:38 hrs Cipla was quoting at Rs 418.25, up Rs 6.95, or 1.69 percent. It has touched an intraday high of Rs 423.65 and an intraday low of Rs 413.20.
The share touched its 52-week high Rs 450.00 and 52-week low Rs 354.40 on 16 September, 2013 and 01 March, 2013, respectively.
Disclosure: He owns Shree Renuka Sugars and has recommended the stock to his clients.
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