EquityPandit’s Outlook for Lupin for the week  (Feb 4, 2019 – Feb 8, 2019) : 

LUPIN:

Lupin closed the week on positive note gaining around 2.00%.

As we have mentioned last week, that minor support for the stock lies around 840 to 850. Support for the stock lies in the zone of 810 to 820 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 780 to 790 where low for the month of July-2018 and August-2018 is lying. During the week the stock manages to hit a low of 844 and close the week around the levels of 883.

Minor support for the stock lies around 865 to 875. Support for the stock lies in the zone of 850 to 860 where Fibonacci levels short; medium and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 820 to 830 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 880 to 890 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 920 to 930 where Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 840 – 850 on lower side & 920 – 930 on upper side.