EquityPandit’s Outlook for Lupin for the week  (Jan 22, 2018 – Jan 25, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 0.50%.

As we have mentioned last week, that minor support for the stock lies in the zone of 900 to 905. Support for the stock lies in the zone of 860 to 865 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 810 to 820 where the stock has formed a short term bottom. During the week the stock manages to hit a low of 895 and close the week around the levels of 924.

Minor support for the stock lies in the zone of 900 to 905. Support for the stock lies in the zone of 860 to 865 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 810 to 820 where the stock has formed a short term bottom.

Resistance for the stock lies in the zone of 920 to 930 from where the stock has broken down in the month of August-2017 and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 950 to 960.

Broad range for the stock in coming week can be seen from 880 – 890 on lower side & 950 – 960 on upper side.