EquityPandit’s Outlook for Lupin for the week (September 12, 2016 – September 16, 2016) :

LUPIN:

Lupin closed the week on positive note gaining around 3.40%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 1545 to 1560. Resistance for the stock lies in the zone of 1580 to 1600 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 1650 where long term moving averages are lying. During the week the stock manages to hit a high of 1588 and close the week around the levels of 1570.

Minor support for the stock lies in the zone of 1540. Support for the stock lies in the zone of 1500 from where the stock broke out of the consolidation zone in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1400 where the stock has made a short term bottom.

Resistance for the stock lies in the zone of 1580 to 1600 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 1650 where long term moving averages are lying.

Broad range for the stock is seen from 1520 – 1540 on downside to 1600 – 1620 on upside.