EquityPandit’s Outlook for Lupin for the week (August 29, 2016 – September 02, 2016) :

LUPIN:

Lupin closed the week on negative note losing around 4.10%.

As we have mentioned last week that minor support for the stock lies in the range of 1545 to 1560. Support for the stock lies in the zone of 1500 from where the stock broke out of the consolidation zone in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1400 where the stock has made a short term bottom. During the week the stock manages to hit a low of 1506 and close the week around the levels of 1512.

Support for the stock lies in the zone of 1500 from where the stock broke out of the consolidation zone in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1400 where the stock has made a short term bottom.

Minor resistance for the stock lies in the zone of 1545 to 1560. Resistance for the stock lies in the zone of 1600 to 1610 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1650 where long term moving averages are lying.

Broad range for the stock is seen from 1450 – 1460 on downside to 1560 – 1570 on upside.