EquityPandit’s Outlook for Lupin for the week  (Feb 12, 2018 – Feb 16, 2018) : 

LUPIN:

Lupin closed the week on negative note losing around 3.00%.

As we have mentioned last week, that support for the stock lies in the zone of 830 to 835 from where the stock broke out on weekly chart. If the stock manages to close below these levels then the stock can drift to the levels of 800 to 805 where the stock has formed a bottom in the month of December-2017. During the week the stock manages to hit a low of 782 and close the week around the levels of 822.

Support for the stock lies in the zone of 800 to 805 where the stock has formed a bottom in the month of December-2017. If the stock manages to close below these levels then the stock can drift to the levels of 780 to 790 where the stock has formed short term bottom.

Minor resistance for the stock lies in the zone of 840 to 850. Resistance for the stock lies in the zone of 875 to 880 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 890 to 900 where break down levels are lying.

Broad range for the stock in coming week can be seen from 780 – 790 on lower side & 870 – 880 on upper side.