EquityPandit’s Outlook for Lupin for the week  (May 15, 2017 – May 19, 2017) :

LUPIN:

Lupin closed the week on absolutely flat note.

As we have mentioned last week that resistance for the stock lies in the zone of 1280 to 1300 from where the stock has broken down from the lows of March-2017. If the stock manages to close above these levels then the stock can move to the levels of 1330 to 1350. During the week the stock manages to hit a high of 1285 and close the week around the levels of 1254.

The stock has broken down on long term charts. Virtually no support lies for the stock. Long term support for the stock lies in the zone of 1000 to 1050.

Resistance for the stock lies in the zone of 1280 to 1300 from where the stock has broken down from the lows of March-2017. If the stock manages to close above these levels then the stock can move to the levels of 1330 to 1350.

Broad range for the stock in coming week can be seen from 1200 – 1210 on downside & 1300 – 1310 on upside.