EquityPandit’s Outlook for Lupin for the week  (Feb 05, 2018 – Feb 09, 2018) : 

LUPIN:

Lupin closed the week on negative note losing around 10.80%.

As we have mentioned last week, that support for the stock lies in the zone of 930 to 940 where break out levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 910 from where the stock broke out of December-2017 highs. During the week the stock manages to hit a low of 845 and close the week around the levels of 847.

Support for the stock lies in the zone of 830 to 835 from where the stock broke out on weekly chart. If the stock manages to close below these levels then the stock can drift to the levels of 800 to 805 where the stock has formed a bottom in the month of December-2017.

Resistance for the stock lies in the zone of 875 to 880 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 890 to 900 where break down levels are lying.

Broad range for the stock in coming week can be seen from 800 – 810 on lower side & 900 – 910 on upper side.