EquityPandit’s Outlook for Lupin for the week  (Nov 13, 2017 – Nov 17, 2017) :

LUPIN:

Lupin closed the week on negative note losing around 20.50%.

As we have mentioned last week, that minor support for the stock lies in the zone of 1030 to 1035. Support for the stock lies in the zone of 1000 to 1010 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 950 to 960 where Fibonacci levels are lying. During the week the stock manages to hit a low of 831 and close the week around the levels of 833.

The stock is in strong downtrend and no support is holding. Support for the stock lies in the zone of 800 to 810 from where the stock broke out. If the stock manages to close below these levels then the stock can drift to the levels of 700 to 750.

Resistance for the stock lies in the zone of 855 to 860 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 875 to 880 where Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 770 – 780 on lower side & 870 – 880 on upper side.