Cipla's Stock Sees Temporary Dip, But Still Performing Well with 'Buy' Call from MarketsMOJO

Cipla ., a leading pharmaceutical company in the largecap industry, has recently seen a dip in its stock price. On October 10th, 2024, the company's stock fell by -3.2%, closing at Rs 1630.75. However, this dip should not be a cause for concern for investors, as MarketsMOJO has given a 'Buy' call for the stock. Despite the recent drop, Cipla's stock is still performing well, with a 4.44% difference from its 52-week high of Rs 1702. The stock has also outperformed the sector by -1.81% today. It is worth noting that this drop comes after three consecutive days of gains for the stock, indicating a possible trend reversal. On the intraday front, Cipla's stock touched a low of Rs 1623.4, a decrease of -3.43%. However, the stock's moving averages are still positive, with it being higher than the 50-day, 100-day, and 200-day moving averages. It is only lower than the 5-day and 20-day moving averages. In comparison to the Sensex, Cipla's stock has underperformed in the past day and month, with a -3.26% and -0.57% difference, respectively. However, the Sensex has also seen a slight decrease in performance during the same time periods. Overall, Cipla's stock may have seen a dip, but it is still performing well and has a 'Buy' call from MarketsMOJO. Investors should not be discouraged by this temporary drop and can continue to have confidence in the company's growth in the pharmaceutical industry.