EquityPandit’s Outlook for Lupin for the week  (May 07, 2018 – May 11, 2018) : 

LUPIN:

Lupin closed the week on negative note losing around 0.70%.

As we have mentioned last week, that minor support for the stock lies in the zone of 780 to 785. 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. During the week the stock manages to hit a low of 785 and close the week around the levels of 796.

Minor support for the stock lies in the zone of 780 to 785. 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 810 to 820 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 840 to 850 where Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 750 – 760 on lower side & 840 – 850 on upper side.