EquityPandit’s Outlook for Lupin for the week (February 22, 2016 – February 26, 2016):

LUPIN:

Lupin closed the week on positive note gaining around 1.90%.

As we have mentioned last week that support for the stock lies in the zone of 1730 to 1750 where short term moving averages and from where the stock has broken out after 2 weeks of consolidation is lying. If the stock closes below this levels then the stock can drift to the levels of 1600 to 1650 where channel support for the stock is lying. During the week the stock manages to hit a low of 1693 and bounce to close the week around the levels of 1789.

Support for the stock lies in the zone of 1730 to 1750 where short term moving averages and from where the stock has broken out after 2 weeks of consolidation is lying. If the stock closes below this levels then the stock can drift to the levels of 1600 to 1650 where channel support for the stock is lying.

Resistance for the stock lies in the range of 1820 where 200 Daily SMA is lying. If the stock closes above this levels then the stock can move to the levels of 1850 where 100 Daily SMA is lying.

Broad range for the stock is seen from 1700 – 1720 on downside to 1820 – 1850 on upside.