EquityPandit’s Outlook for Lupin for the week (June 13, 2016 – June 17, 2016):

LUPIN:

Lupin closed the week on negative note losing around 0.90%.

As we have mentioned last week that support for the stock lies in the zone of 1400 to 1450 from where the stock has bounced in the month of March-2016. If the stock manages to close below these levels then the stock can drift to the levels of 1300. During the week the stock manages to hit a low of 1395 and close the week around the levels of 1437.

Support for the stock lies in the zone of 1400 to 1420 from where the stock has bounced in the month of March-2016. If the stock manages to close below these levels then the stock can drift to the levels of 1300.

Resistance for the stock lies in the zone of 1500 to 1530 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1580 to 1600 where channel support which was holding the stock since the month of May – 2015 is lying.

Broad range for the stock is seen from 1370 – 1400 on downside to 1480 – 1510 on upside.