EquityPandit’s Outlook for Lupin for the week  (June 05, 2017 – June 09, 2017) :

LUPIN:

Lupin closed the week on positive note gaining around 4.90%.

As we have mentioned last week that the stock has broken down on long term charts. Virtually no support lies for the stock. Support for the stock lies in the zone of 1080 to 1110 where long term Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900. During the week the stock manages to hit a low of 1080 and close the week around the levels of 1167.

The stock has broken down on long term charts. Virtually no support lies for the stock. Minor support for the stock lies in the zone of 1130 to 1140. Support for the stock lies in the zone of 1080 to 1110 where long term Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900.

Resistance for the stock lies in the zone of 1170 to 1180. If the stock manages to close above these levels then the stock can move to the levels of 1200 to 1210.

Broad range for the stock in coming week can be seen from 1080 – 1100 on downside & 1200 – 1210 on upside.