EquityPandit’s Outlook for Lupin for the week  (Jan 29, 2018 – Feb 02, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 4.10%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 970 and close the week around the levels of 962.

Support for the stock lies in the zone of 930 to 940 where break out levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 910 from where the stock broke out of December-2017 highs.

Resistance for the stock lies in the zone of 990 to 1000 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 1040 to 1050 where long term moving averages are lying.

Broad range for the stock in coming week can be seen from 900 – 910 on lower side & 1000 – 1010 on upper side.