EquityPandit’s Outlook for Lupin for the week  (Jan 21, 2019 – Jan 25, 2019) : 

LUPIN:

Lupin closed the week on positive note gaining around 2.60%.

As we have mentioned last week, that minor resistance for the stock lies around 850 to 860. Resistance for the stock lies in the zone of 880 to 890 where 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. During the week the stock manages to hit a high of 875 and close the week around the levels of 862.

Minor support for the stock lies around 830 to 840. Support for the stock lies in the zone of 800 to 810 where the stock has taken multiple support in the month of December-2018. If the stock manages to close below these levels then the stock can drift to the levels of 780 to 790 where low for the month of July-2018 and August-2018 is lying.

Minor resistance for the stock lies around 855 to 865. Resistance for the stock lies in the zone of 880 to 890 where 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 810 – 820 on lower side & 880 – 890 on upper side.