LUPIN Weekly Outlook and Analysis:
For the Week: (Aug 24,2020 – Aug 28,2020)
BSE: 500257| NSE: LUPIN| ISIN: INE326A01037| SECTOR: PHARMA
Stock closed the Weekly on negative note losing -3.61%
Lupin Share Price: 981.40 (NSE)
Weekly High: 1035.00
Weekly Low: 975.20
Weekly Range: 59.80 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.
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 but the SMA 200 and resistance can halt it’s run. Once the stock cross above 950 we can see the level of 1000.
