EquityPandit’s Outlook for Lupin for the week (March 06, 2017 – March 10, 2017) :

LUPIN:

Lupin closed the week on positive note gaining around 1.80%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 1480 to 1500. Resistance for the stock lies in the zone of 1525 to 1530 where 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 1550 to 1560 from where the stock is facing multiple resistance. During the week the stock manages to hit a high of 1483 and close the week around the levels of 1476.

Minor support for the stock lies in the zone of 1455 to 1460. Support for the stock lies in the zone of 1420 to 1440 from where the stock has broken out of the consolidation zone. If the stock manages to close below these levels then the stock can drift to the levels of 1380 to 1400 where the stock has made a bottom in the month of June – 2016, November – 2016 & December – 2016.

Minor resistance for the stock lies in the zone of 1480 to 1500. Resistance for the stock lies in the zone of 1515 to 1520 where 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 1550 to 1560 from where the stock is facing multiple resistance.

Broad range for the stock is seen from 1440 – 1450 on downside & 1510 – 1520 on upside.