EquityPandit’s Outlook for Lupin for the week  (Jan 15, 2018 – Jan 19, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 2.10%.

As we have mentioned last week, that resistance for the stock lies in the zone of 915 to 920 from where the stock has broken down in the month of August-2017. If the stock manages to close above these levels then the stock can move to the levels of 940 to 950 where medium term moving averages are lying. During the week the stock manages to hit a high of 937 and close the week around the levels of 919.

Minor support for the stock lies in the zone of 900 to 905. Support for the stock lies in the zone of 860 to 865 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 810 to 820 where the stock has formed a short term bottom.

Resistance for the stock lies in the zone of 915 to 920 from where the stock has broken down in the month of August-2017. If the stock manages to close above these levels then the stock can move to the levels of 940 to 950 where medium term moving averages are lying.

Broad range for the stock in coming week can be seen from 870 – 880 on lower side & 940 – 950 on upper side.