EquityPandit’s Outlook for Lupin for the week  (June 04, 2018 – June 08, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 2.50%.

As we have mentioned last week, that resistance for the stock lies in the zone of 760 to 770 where break down levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 780 to 790 where Fibonacci levels and short term moving averages are lying. During the week the stock manages to hit a high of 799 and close the week around the levels of 764.

Support for the stock lies in the zone of 740 to 745 where the stock has formed a bottom in the month of April-2018. 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 & May-2018.

Resistance for the stock lies in the zone of 770 to 780 where Fibonacci levels and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 800 to 810 where Fibonacci levels and medium term moving averages are lying.

Broad range for the stock in coming week can be seen from 720 – 730 on lower side & 790 – 800 on upper side.