EquityPandit’s Outlook for Lupin for the week  (July 10, 2017 – July 14, 2017) :

LUPIN:

Lupin closed the week on positive note gaining around 5.40%.

As we have mentioned last week that resistance for the stock lies in the zone of 1080 to 1100 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1120 to 1140 from where the stock broke down after consolidation. During the week the stock manages to hit a high of 1137 and close the week around the levels of 1117.

The stock has broken down on long term charts. Virtually no support lies for the stock. Minor support for the stock lies in the zone of 1070 to 1080. Support for the stock lies in the zone of 1030 to 1040 where the stock has formed a short term bottom. If the stock manages to close below these levels then the stock can drift to the levels of 950 to 960 where long term Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1120 to 1140 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 1180 to 1190 where short term moving averages are lying.

Broad range for the stock in coming week can be seen from 1060 – 1070 on downside & 1180 – 1190 on upside.