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

LUPIN:

Lupin closed the week on positive note gaining around 1.30%.

As we have mentioned last week, that support for the stock lies in the zone of 870 to 880 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 840 to 850 from where the stock broke out of April-2018 high and long term moving averages are lying. During the week the stock manages to hit a low of 881 and close the week around the levels of 916.

Support for the stock lies in the zone of 870 to 880 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 840 to 850 from where the stock broke out of April-2018 high and long term moving averages are lying.

Minor resistance for the stock lies in the zone of 920 to 925. Resistance for the stock lies in the zone of 940 to 950 from where the stock has broken down in the month of January-2018. If the stock manages to close above these levels then the stock can move to the levels of 970 to 980 where the stock has formed a high in the month of January-2018.

Broad range for the stock in coming week can be seen from 880 – 890 on lower side & 940 – 950 on upper side.