EquityPandit’s Outlook for Lupin for the week (September 26, 2016 – September 30, 2016) :

LUPIN:

Lupin closed the week on negative note losing around 3.10%.

As we have mentioned last week that minor support for the stock lies in the zone of 1520. Support for the stock lies in the zone of 1480 to 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 medium term bottom. During the week the stock manages to hit a low of 1484 and close the week around the levels of 1490.

Support for the stock lies in the zone of 1480 to 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 bottom in the month of June – 2016.

Minor resistance for the stock lies in the zone of 1520. Resistance for the stock lies in the zone of 1560 to 1580 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 1450 – 1460 on downside to 1520 – 1530 on upside.