EquityPandit’s Outlook for Lupin for the week (December 21, 2015 – December 24, 2015):

LUPIN:

Lupin closed the week on positive note gaining around 2.50%.

As we have mentioned last week that resistance for the stock lies in the range of 1780 to 1800 where short term moving averages are lying. If the stock manages to close above this levels then the stock can move to the levels of 1840 to 1870 where 100 & 200 Daily SMA are positioned. During the week the stock manages to hit a high of 1846.6 and retraced to close the week around the levels of 1784.

Support for the stock lies in the range of 1730 to 1750 where the stock has made the short term bottom. If the stock closes below this levels then the stock can drift to the levels of 1680.

The stock has closed around the strong resistance zone of 1780 to 1800 where short term moving averages are lying. If the stock manages to close above this levels then the stock can move to the levels of 1840 to 1870 where 100 & 200 Daily SMA are positioned.

Broad range for the stock is seen from 1700 – 1730 on downside to 1830 – 1850 on upside.