EquityPandit’s Outlook for Lupin for the week  (Aug 07, 2017 – Aug 11, 2017) :

LUPIN:

Lupin closed the week on negative note losing around 6.70%.

As we have mentioned last week, that support for the stock lies in the zone of 1030 to 1040 where the stock has formed a short term bottom. If the stock manages to close below these levels then the stock can drift to the levels of 950 to 960 where Fibonacci levels are lying. During the week the stock manages to hit a low of 963 and close the week around the levels of 993.

Support for the stock lies in the zone of 950 to 960 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can witness a freefall and the stock can drift to the levels of 870 to 880.

Minor resistance for the stock lies in the zone of 1030 to 1040. Resistance for the stock lies in the zone of 1080 to 1100 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 1140 to 1150 from where the stock broke down after consolidation.

Broad range for the stock in coming week can be seen from 950 – 960 on downside & 1050 – 1060 on upside.