EquityPandit’s Outlook for Lupin for the week  (May 14, 2018 – May 18, 2018) : 

LUPIN:

Lupin closed the week on negative note losing around 5.50%.

As we have mentioned last week, that minor support for the stock lies in the zone of 780 to 785. Support for the stock lies in the zone of 755 to 765 from where the stock broke out. If the stock manages to close below these levels then the stock can drift to the levels of 720 to 730 where the stock has formed a bottom in the month of March-2018. During the week the stock manages to hit a low of 744 and close the week around the levels of 752.

Support for the stock lies in the zone of 740 to 745 where the stock has formed a bottom in the month of April-2018. If the stock manages to close below these levels then the stock can drift to the levels of 720 to 730 where the stock has formed a bottom in the month of March-2018.

Resistance for the stock lies in the zone of 760 to 770 where break down levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 780 to 790 where Fibonacci levels and medium term moving averages are lying.

Broad range for the stock in coming week can be seen from 720 – 730 on lower side & 800 – 810 on upper side.