EquityPandit’s Outlook for Lupin for the week (November 09, 2015 – November 13, 2015):

LUPIN:

Lupin closed the week on negative note losing around 3.7%.

As we have mentioned last week that support for the stock lies in the zone of 1860 to 1880 where downward sloping trend-line and 100 Daily SMA are positioned. If the stock closes below this levels then the stock can drift to the levels of 1800 where 200 Daily SMA is positioned. During the week the stock manages to hit a low of 1812 and bounce to close the week around the levels of 1858.

Support for the stock lies in the zone of 1800 where 200 Daily SMA is positioned. If the stock closes below this levels then the stock can drift to the levels of 1600 where channel support for the stock is positioned. The stock is moving in this channel since the month of April – 2015.

Resistance for the stock lies in the zone of 1900 to 1920 where short term moving averages and 100 Daily SMA are positioned. If the stock manages to close above the levels of 1920 then the stock can move to the levels of 1950 where trend-line resistance for the stock is lying.

Broad range for the stock is seen from 1750 – 1780 on downside to 1920 – 1950 on upside.