Cipla may touch Rs 545-550: Pritesh Mehta

Pritesh Mehta, senior technical analyst at IIFL told CNBC-TV18, "Cipla has given a breakout from a trading range. For a while it was stuck around Rs 440 on the upside and Rs 340 on the downside, it has given a breakout. I am expecting target of Rs 545-550 in next couple of months."

At 14:46 hrs Cipla was quoting at Rs 499.40, up Rs 6.50, or 1.32 percent. It has touched a 52-week high of Rs 501.