EquityPandit’s Outlook for Lupin for the week  (May 29, 2017 – June 02, 2017) :

LUPIN:

Lupin closed the week on negative note losing around 15.60%.

As we have mentioned last week that minor support for the stock lies in the zone of 1280 to 1300. Support for the stock lies in the zone of 1240 to 1250 where the stock has formed a short term bottom. 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. During the week the stock manages to hit a low of 1100 and close the week around the levels of 1113.

The stock has broken down on long term charts. Virtually no support lies for the stock. Support for the stock lies in the zone of 1080 to 1110 where long term Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900.

Resistance for the stock lies in the zone of 1150 to 1170. If the stock manages to close above these levels then the stock can move to the levels of 1200 to 1210.

Broad range for the stock in coming week can be seen from 1000 – 1010 on downside & 1170 – 1180 on upside.