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

LUPIN:

Lupin closed the week on negative note losing around 7.50%.

As we have mentioned last week, that support for the stock lies in the zone of 840 to 850 from where the stock broke out of April-2018 high and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 800 to 810 where break out levels and medium term moving averages are lying. During the week the stock manages to hit a low of 787 and close the week around the levels of 801.

Support for the stock lies in the zone of 780 to 790 from where the stock broke out in the month of June-2018. If the stock manages to close below these levels then the stock can drift to the levels of 740 to 750 where low for the month of June-2018 is lying.

Resistance for the stock lies in the zone of 820 to 830 where short & long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 855 to 865 where Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 760 – 770 on lower side & 840 – 850 on upper side.