EquityPandit’s Outlook for Lupin for the week  (Oct 22, 2018 – Oct 26, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 4.00%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 911 and close the week around the levels of 880.

Minor support for the stock lies around 850 to 860. 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 880 to 890 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 920 to 930 where Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 830 – 840 on lower side & 920 – 930 on upper side.