EquityPandit’s Outlook for Lupin for the week (May 13, 2019 – May 17,2019)

LUPIN:

Lupin Ltd.

BSE: 500257| NSE: LUPIN| ISIN: INE326A01037| SECTOR: PHARMA

Stock closed the week on negative note losing -3.81%

Week High: 870.00

Week Low: 836.85

Week Range: 33.15 Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 820- 825 levels, Minor resistance on the upside is capped around 850– 855 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 780-770 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 870– 880

Stock is trading at 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 870– 880 on upside and 780– 770 on downside.