EquityPandit’s Outlook for Lupin for the week (May 06,2019 – May 10,2019)

LUPIN:

Lupin Ltd.

BSE: 500257| NSE: LUPIN| ISIN: INE326A01037| SECTOR: PHARMA

Stock closed the week on positive note gaining+0.64%

Week High: 874.80

Week Low: 864.50

Week Range: 10.30 Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 852- 850 levels, Minor resistance on the upside is capped around 889- 890 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 820- 825 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 918- 920

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 918- 920 on upside and 820- 825 on downside.