EquityPandit’s Outlook for Lupin for the week  (July 16, 2018 – July 20, 2018) : 

LUPIN:

Lupin closed the week on negative note losing around 5.50%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 920 to 925. Resistance for the stock lies in the zone of 940 to 950 from where the stock has broken down in the month of January-2018. If the stock manages to close above these levels then the stock can move to the levels of 970 to 980 where the stock has formed a high in the month of January-2018. During the week the stock manages to hit a high of 930 and close the week around the levels of 866.

Support for the stock lies in the zone of 840 to 850 from where the stock broke out of April-2018 high 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 800 to 810 where break out levels and medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 880 to 890. Resistance for the stock lies in the zone of 940 to 950 from where the stock has broken down in the month of January-2018. If the stock manages to close above these levels then the stock can move to the levels of 970 to 980 where the stock has formed a high in the month of January-2018.

Broad range for the stock in coming week can be seen from 820 – 830 on lower side & 900 – 910 on upper side.