EquityPandit’s Outlook for Lupin for the week  (June 11, 2018 – June 15, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 6.00%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 745 and close the week around the levels of 810.

Support 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 below these levels then the stock can drift to the levels of 740 to 745 where the stock has formed a bottom in the month of April-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 the stock has formed a high in the month of April-2018 and long term moving averages are lying.

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