EquityPandit’s Outlook for Lupin for the week (August 08, 2016 – August 12, 2016):

LUPIN:

Lupin closed the week on negative note losing around 3.70%.

As we have mentioned last week that support for the stock lies in the zone of 1680 to 1700 where long term moving averages are lying. Support for the stock lies in the zone of 1600 to 1620 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1510 to 1530 where short term moving averages are lying. During the week the stock manages to hit a low of 1642 and close the week around the levels of 1675.

Support for the stock lies in the zone of 1640 to 1650 where long term moving averages are lying. Support for the stock lies in the zone of 1600 to 1620 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1510 to 1530 where short term moving averages are lying.

Minor resistance for the stock lies in the zone of 1690 to 1710. Resistance for the stock lies in the zone of 1750 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 1800 from where the stock has sold off in the month of March – 2016.

Broad range for the stock is seen from 1600 – 1620 on downside to 1750 – 1760 on upside.