LUPIN Weekly Outlook and Analysis:
For the Week: (Aug 17,2020 – Aug 21,2020)
BSE: 500257| NSE: LUPIN| ISIN: INE326A01037| SECTOR: PHARMA
Stock closed the Weekly on positive note gaining +15.75%
Lupin Share Price: 1018.20 (NSE)
Weekly High: 1023.55
Weekly Low: 886.05
Weekly Range: 137.50 Points
Weekly Support & Resistance For Sun Pharma:
| RESISTANCE 2 | 1148.00 |
| RESISTANCE 1 | 1090.00 |
| SUPPORT 1 | 925.00 |
| SUPPORT 2 | 879.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 925 levels, Minor resistance on the upside is capped around 1090 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 @ 879 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 @ 1148.
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the Weekly as 1200 on upside and 800 on downside.
Lupin witnessed huge buying attraction after quarterly results announce and Smart money flow has been seen after the corrective move in the previous week. Stock is likely to out perform all the large pharma stock for the next week. Stock should be in the radar for the Intraday and Swing traders.
