EquityPandit’s Outlook for Lupin for the week  (July 17, 2017 – July 21, 2017) :

LUPIN:

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

As we have mentioned last week, that resistance for the stock lies in the zone of 1120 to 1140 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 1180 to 1190 where short term moving averages are lying. During the week the stock manages to hit a high of 1229 and close the week around the levels of 1139.

Support for the stock lies in the zone of 1110 to 1120 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1030 to 1040 where the stock has formed a short term bottom.

Resistance for the stock lies in the zone of 1160 to 1170 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1200 to 1220 where high for the month of June-2017 is lying.

Broad range for the stock in coming week can be seen from 1070 – 1090 on downside & 1180 – 1190 on upside.