Look at Cipla, says Meghana Malkan

Meghana V Malkan of malkansview.com told CNBC-TV18, "Cipla is facing resistance when it formed a bearish candlestick pattern. If you see the weekly chart, it formed a good bearish pattern at around Rs 695-700 level. So, that zone it is finding difficult to to cross but on the lower side it is having a good support at around Rs 600 level. Till the time that is broken, the stock should be traded from the long side."

At 15:27 hrs Cipla was quoting at Rs 640.30, down Rs 20.15, or 3.05 percent. It has touched an intraday high of Rs 665.80 and an intraday low of Rs 639.30.