EquityPandit’s Outlook for Lupin for the week  (Mar 05, 2019 – Mar 08, 2019) :

LUPIN:

Lupin closed the week on positive note gaining around 1.00%.

As we have mentioned last week, that resistance for the stock lies in the zone of 790 to 800 from where the stock has broken down from the low of August-2018 and December-2018. If the stock manages to close above these levels then the stock can move to the levels of 820 to 830 where Fibonacci levels and short term moving averages are lying. During the week the stock manages to hit a high of 791 and close the week around the levels of 787.

Minor support for the stock lies in the zone of 765 to 775. Support for the stock lies in the zone of 740 to 750 where the stock has formed a low in the month of June-2018 and February-2019. If the stock manages to close below these levels then the stock can drift to the levels of 720 to 730 where the stock has formed a low in the month of March-2018 and May-2018.

Resistance for the stock lies in the zone of 790 to 800 from where the stock has broken down from the low of August-2018 and December-2018. If the stock manages to close above these levels then the stock can move to the levels of 820 to 830 where Fibonacci levels and short term moving averages are lying.

Broad range for the stock in coming week can be seen from 740 – 750 on lower side & 820 – 830 on upper side.