EquityPandit’s Outlook for Lupin for the week  (Mar 26, 2018 – Mar 28, 2018) : 

LUPIN:

Lupin closed the week on negative note losing around 3.70%.

As we have mentioned last week, that resistance for the stock lies in the zone of 780 to 790 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 845 to 850 where break down levels and short term moving averages are lying. During the week the stock manages to hit a high of 780 and close the week around the levels of 734.

The stock is in strong downtrend and support levels are not holding. Support for the stock lies in the zone of 715 to 725. If the stock manages to close below these levels then the stock can drift to the levels of 680 to 690.

Minor resistance for the stock lies in the zone of 750 to 760. Resistance for the stock lies in the zone of 780 to 790 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 820 to 830 where break down levels and short term moving averages are lying.

Broad range for the stock in coming week can be seen from 700 – 710 on lower side & 760 – 770 on upper side.