ETMarkets.com|Oct 29, 2018, 10.26 AM ISTJay Thakkar of Anand Rathi has a sell call on Cipla with a target price of Rs 576. The current market price of Cipla is Rs 611.20. Time period given by the analyst is two weeks when Cipla price can reach the defined target.

Jay Thakkar recommended keeping a stop loss at Rs 620. "The stock has broken the bearish head and shoulders pattern on the daily charts with the sell crossover in its momentum indicators.

The minimum target on the lower side comes to Rs 576 whereas the resistance is pegged at 620 levels.

The momentum indicators are showing sell crossover with a negative divergence," Thakkar said.

Cipla, incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 48,591.47 crore) operating in Pharmaceuticals and health care sector.

Read this article in :HindiSell Cipla, target Rs 625: Jay ThakkarSell DLF, target Rs 145: Jay ThakkarBuy Lupin, target Rs 990: Jay ThakkarRisk reward is definitely good on long side: Jay Thakkar, Anand RathiBuy Hindustan Petroleum Corporation, target Rs 230: Jay ThakkarCommenting feature is disabled in your country/region.Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com ETMarkets.com.

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