EquityPandit’s Outlook for Lupin for the week  (Apr 23, 2018 – Apr 27, 2018) : 

LUPIN:

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

As we have mentioned last week, that resistance for the stock lies in the zone of 790 to 800 where short 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 820 to 830 where medium term moving averages and Fibonacci levels are lying. During the week the stock manages to hit a high of 813 and close the week around the levels of 800.

Minor support for the stock lies in the zone of 780 to 785. Support for the stock lies in the zone of 755 to 765 from where the stock broke out. 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 bottom in the month of March-2018.

Resistance for the stock lies in the zone of 810 to 820 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 840 to 850 where Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 750 – 760 on lower side & 840 – 850 on upper side.