EquityPandit’s Outlook for Lupin for the week  (Oct 15, 2018 – Oct 19, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 0.80%.

As we have mentioned last week, that support for the stock lies in the zone of 820 to 830 where long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 790 to 800 where low for the month of July-2018 and August-2018 is lying. During the week the stock manages to hit a low of 818 and close the week around the levels of 846.

Support for the stock lies in the zone of 820 to 830 where long 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 790 to 800 where low for the month of July-2018 and August-2018 is lying.

Resistance for the stock lies in the zone of 875 to 885 where short & medium term moving averages and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 900 to 910 from where the stock broke down after consolidation.

Broad range for the stock in coming week can be seen from 790 – 800 on lower side & 890 – 900 on upper side.