LUPIN Weekly Outlook and Analysis:
For the Week: (Aug 10,2020 – Aug 14,2020)
BSE: 500257| NSE: LUPIN| ISIN: INE326A01037| SECTOR: PHARMA
Stock closed the week on negative note losing -5.04%
Lupin Share Price: 879.85 (NSE)
Week High: 954.60
Week Low: 874.10
Week Range: 80.50 Points
Weekly Support & Resistance For Lupin Ltd.
RESISTANCE 2 | 990.00 |
RESISTANCE 1 | 956.00 |
SUPPORT 1 | 839.00 |
SUPPORT 2 | 808.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 839 levels, Minor resistance on the upside is capped around 956 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 @ 808 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 @ 990.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 1000 on upside and 800 on downside.
On the daily chart we can see that, stock is revolving between in rang till now and Stochastic RSI shows some positive strength in stock, as overall pharma sector is outperforming the market, so we can see stock heading towards higher levels.