EquityPandit’s Outlook for Lupin for the week  (Apr 16, 2018 – Apr 20, 2018) : 

LUPIN:

Lupin closed the week on negative note losing around 3.60%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 818 and close the week around the levels of 780.

Support for the stock lies in the zone of 755 to 765 from where the stock broke out. If the stock manages to close below these levels then the stock can drift to the levels of 720 to 730 where the stock has formed a bottom in the month of March-2018.

Resistance for the stock lies in the zone of 790 to 800 where short term moving averages and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 820 to 830 where medium term moving averages and Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 720 – 730 on lower side & 820 – 830 on upper side.