EquityPandit’s Outlook for Lupin for the week  ( Jan 01, 2018 – Jan 05, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 1.50%.

As we have mentioned last week, that 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 900 to 910 where short term moving averages are lying. During the week the stock manages to hit a high of 900 and close the week around the levels of 885.

Support for the stock lies in the zone of 850 to 860. 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.

Resistance for the stock lies in the zone of 915 to 920 from where the stock has broken down in the month of August-2017. If the stock manages to close above these levels then the stock can move to the levels of 940 to 950 where medium term moving averages are lying.

Broad range for the stock in coming week can be seen from 850 – 860 on lower side & 920 – 930 on upper side.