Cipla CMP 880 - one of the three top weighted stocks of nifty pharma contributing 12.4% followed by sunpharma (26%) and Dr. Reddy Lab (13%).
After heavy correction from all time high of 1185 right now its trading near 880 levels on 03/03/2023.
One little bounce of 5% can be seen from current levels of 880 , till 920. But the quaterly demand zones lies at 810...
1. Could sense a change in the sentiment with this stock
2. Long Term Down trend has been broken.
3. Companies financials look stronger.
4. Good momentum in evident.
5. Price to Book is 1.45
A good strategy to gain out of this stock would be long term investing.
1. Buy the dips.
2. Wait for 3 - 5 years.
Happy Investing :)