EquityPandit’s Outlook for Lupin for the week  (Aug 13, 2018 – Aug 17, 2018) : 

LUPIN:

Lupin closed the week on negative note losing around 8.60%.

As we have mentioned last week, that resistance for the stock lies in the zone of 900 to 910 where break down levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 940 to 950 where high for the month of July-2018 is lying. During the week the stock manages to hit a high of 897 and close the week around the levels of 809.

Support for the stock lies in the zone of 780 to 790 where the stock has formed a bottom in the month of July-2018. If the stock manages to close below these levels then the stock can drift to the levels of 740 to 750 where the stock has formed a bottom in the month of June-2018.

Resistance for the stock lies in the zone of 840 to 850 where break down levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 880 to 890 where Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 760 – 770 on lower side & 850 – 860 on upper side.