LUPIN Weekly Outlook and Analysis:
For the Week: (May 10, 2021 – May 14, 2021)
BSE: 500257| NSE: LUPIN| ISIN: INE326A01037| SECTOR: PHARMA
The stock closed the Weekly on a positive note gaining +11.88%
Lupin Share Price: 1196.55 (NSE)
Weekly High: 1241.00
Weekly Low: 1049.50
Weekly Range: 191.50 Points
Weekly Support & Resistance For Sun Pharma:
| RESISTANCE 2 | 1330 |
| RESISTANCE 1 | 1270 |
| SUPPORT 1 | 1035 |
| SUPPORT 2 | 974 |
Technically on the daily charts, EquityPandit’s Analyst sees: Minor support on the downside lies at 1035 levels, Minor resistance on the upside is capped around 1270 levels.
If stock breaches minor support on the downside and closes below it we may see a fresh break down and stock can drag towards Major Support on the lower side @ 974 and If stock breaches minor resistance on the upside and closes above it we may see a fresh breakout and stock can head towards Major Resistances Level @ 1330.
Stock is trading below 200 days exponential moving average suggests long term trend is bearish. EquityPandit predicts the range for the Weekly as 1400 on the upside and 900 on the downside.
On the daily chart, we can see that the stock is break, which is a very important support trend line here and Stochastic RSI shows some weakness in the stock.
