Sell Cipla, target Rs 443: Rakesh Bansal

Rakesh Bansal, RK Global recommends a sell rating on Cipla with a target price of Rs 443 and a strict stop loss placed at Rs 479. The stock has slipped 28 per cent so far in the calendar year 2016. The stock is looking bearish on the charts.

Cipla is a low beta stock (-0.15) and is trading well below its 50-day, 100-day and 200-day moving averages of Rs 515.44, Rs 537.15 and Rs 598.18, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 26.66 and P/B of 3.47.