EquityPandit’s Outlook for Lupin for the week  (Aug 06, 2018 – Aug 10, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 8.70%.

As we have mentioned last week, that resistance for the stock lies in the zone of 820 to 830 where short & long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 855 to 865 where Fibonacci levels are lying. During the week the stock manages to hit a high of 896 and close the week around the levels of 886.

Support for the stock lies in the zone of 860 to 870 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 810 to 820 where break out levels and medium & long term moving averages are lying.

Resistance for the stock lies in the zone of 900 to 910 where break down levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 940 to 950 where high for the month of July-2018 is lying.

Broad range for the stock in coming week can be seen from 840 – 850 on lower side & 930 – 940 on upper side.