EquityPandit’s Outlook for Lupin for the week  (Sep 24, 2018 – Sep 28, 2018) : 

LUPIN:

Lupin closed the week on negative note losing around 8.10%.

As we have mentioned last week, that resistance for the stock lies in the zone of 980 to 990 where high for the month of January-2018 is lying. If the stock manages to close above these levels then the stock can move to the levels of 1020 to 1030. During the week the stock manages to hit a high of 978 and close the week around the levels of 890.

Support for the stock lies in the zone of 860 to 870 where short & medium term moving averages and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 820 to 830 where long term moving averages are lying.

Minor support for the stock lies in the zone of 915 to 925. Resistance for the stock lies in the zone of 940 to 950 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990 where high for the month of January-2018 is lying.

Broad range for the stock in coming week can be seen from 820 – 830 on lower side & 950 – 960 on upper side.