EquityPandit’s Outlook for Lupin for the week  (June 18, 2018 – June 22, 2018) : 

LUPIN:

Lupin closed the week on positive note gaining around 12.70%.

As we have mentioned last week, that resistance for the stock lies in the zone of 810 to 820 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 840 to 850 where the stock has formed a high in the month of April-2018 and long term moving averages are lying. During the week the stock manages to hit a high of 925 and close the week around the levels of 913.

Support for the stock lies in the zone of 870 to 880 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 840 to 850 from where the stock broke out of April-2018 high and long term moving averages are lying.

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 840 – 850 on lower side & 970 – 980 on upper side.