Shares of Cadila Healthcare fell as much as 4.2 per cent to Rs 249.5, lowest since October 1, 2014. Stock breaks below a support at Rs 255.92, the 76.4 per cent. Fibonacci projection level of the downtrend from September 10, 2018 high to Febuary 15, 2019.

Stock's wave pattern suggests, it is in the third wave, typically the longest wave of a five-wave downtrend. In the near term, stock has support at Rs 243.27, the 86.4 per cent projection level.

Trend intensity(TI) indicator rose to 36, suggesting a strong downtrend for the stock, MACD is negative and below its signal line.

Stock is down 25.3 per cent this year as of last close, while the broader NSE Index has gained 2.7 per cent in the same period.