EquityPandit’s Outlook for Lupin for the week  (Aug 20, 2018 – Aug 24, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 8.90%.

As we have mentioned last week, that resistance for the stock lies in the zone of 840 to 850 where break down levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 880 to 890 where Fibonacci levels are lying. During the week the stock manages to hit a high of 885 and close the week around the levels of 881.

Support for the stock lies in the zone of 850 to 860 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 890 to 900. If the stock manages to close above these levels then the stock can move to the levels of 950 to 960 where high for the month of July-2018 is lying.

Broad range for the stock in coming week can be seen from 820 – 830 on lower side & 950 – 960 on upper side.