EquityPandit’s Outlook for Lupin for the week (March 08, 2016 – March 11, 2016):

LUPIN:

Lupin closed the week on positive note gaining around 3.10%.

As we have mentioned last week that resistance for the stock lies in the zone of 1760 to 1780 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 1820 where 200 Daily SMA is lying. During the week the stock manages to hit a high of 1819 and close the week around the levels of 1780.

Support for the stock lies in the range of 1740 to 1760 where short term moving averages are lying. If the stock manages to close below this levels then the stock can drift to the levels of 1700 to 1720 where the stock has broken out after 2 weeks of consolidation is lying.

Resistance for the stock lies in the range of 1820 where 100 & 200 Daily SMA is lying. If the stock manages to close above this levels then the stock can move to the levels of 1900.

Broad range for the stock is seen from 1730 – 1750 on downside to 1840 – 1860 on upside.