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Shares of Cipla hit 3-1/2-month low, and technicals signal further downside.
Cipla stock fell as much as 1.98 per cent to Rs 562.70, to its lowest since January 3.
The stock has broken below a support of around Rs 575, the 61.8 pct Fibonacci projection of wave 1.
The stock has also broken below the support from its 200-day Simple Moving Average, seen bearish for the stock.
Trend Intensity indicator (TI) at 20 indicates that the stock is in downtrend. MACD is also negative and below its signal line.
The stock is marginally up 0.92 per cent this year as of Thursday's close, compared with a 11.61 per cent gain for the NSE Index.
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