EquityPandit’s Outlook for Lupin for the week  (Apr 09, 2018 – Apr 13, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 10.00%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 843 and close the week around the levels of 809.

Support for the stock lies in the zone of 790 to 800 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 750 to 760 from where the stock broke out.

Resistance for the stock lies in the zone of 820 to 830 where short and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 870 to 880 where Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 750 – 760 on lower side & 870 – 880 on upper side.