EquityPandit’s Outlook for Lupin for the week  (Dec 11, 2017 – Dec 15, 2017) :

LUPIN:

Lupin closed the week on positive note gaining around 1.10%.

As we have mentioned last week, that the stock is in strong downtrend and no support is holding. Support for the stock lies in the zone of 810 to 820 where the stock has formed a short term bottom. If the stock manages to close below these levels then the stock can drift to the levels of 700 to 750. During the week the stock manages to hit a low of 806 and close the week around the levels of 823.

The stock is in strong downtrend and no support is holding. Support for the stock lies in the zone of 810 to 820 where the stock has formed a short term bottom. If the stock manages to close below these levels then the stock can drift to the levels of 700 to 750.

Minor resistance for the stock lies in the zone of 835 to 840. Resistance for the stock lies in the zone of 855 to 860 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 875 to 880 where Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 770 – 780 on lower side & 850 – 860 on upper side.