Cipla reported a Net Profit of Rs 686 crore for the first quarter of 2022-23, which is down by 4 percent in comparison with the same quarter in the last year.
The consolidated revenues have shrunk by 2 percent to Rs 5375 crore.

Cipla documented in their report, their Indian business consisting of trade generics, prescription and consumer health has fallen by 8 percent during the first quarter to 2483 crore. Cipla explains this was due to normalization in the share of COVID-19 drugs in the branded prescription business.
Revenues from their North American business have risen by 10 per cent to USD 155 million, which is backed by respiratory and peptide assets.

By looking at the candlestick chart, it appears that CIPLA is taking heavy support around the 23.6% retracement level which is at Rs 911. The stock has not been able to make a breakout above the swing high and the stock has been manipulated to remain below Rs 1000.

For the past 400 days, CIPLA price has been in the range between 900 – 1000. It is obvious that the operators are holding the stock in this range to reap huge profits from the option contracts.

CIPLA seems to be a very good stock for directional neutral options trading. Deploying sideways options strategies works beautifully in CIPLA. Please join the Pathfinders Advance Options course to learn about trading options and generating a consistent income through tailored options strategies.

CIPLA is stock which belongs to the NIFTY50 stocks. CIPLA is a fundamentally strong NIFTY Pharma stock which can be a good constituent as a Portfolio stock for people who would like a matured and sustainable stock for their low-risk portfolio which can be held for long term returns.