EquityPandit’s Outlook for Lupin for the week (November 02, 2015 – November 06, 2015):

LUPIN:

Lupin closed the week on negative note losing around 7.2%.

As we have mentioned last week that support for the stock lies in the range of 2020 to 2040 where short term moving averages are positioned. If the stock closes below this levels then the stock can drift to the levels of 1900 where trend-line support for the stock is positioned. During the week the stock manages to hit a low of 1885 and bounce to close the week around the levels of 1929.

Support for the stock lies in the zone of 1860 to 1880 where downward sloping trend-line and 100 Daily SMA are positioned. If the stock closes below this levels then the stock can drift to the levels of 1800 where 200 Daily SMA is positioned.

Resistance for the stock lies in the zone of 1960 to 1980 where short term moving averages are positioned. If the stock manages to close above this levels then the stock can move to the levels of 2020 from where the stock has broken the triangle pattern.

Broad range for the stock is seen from 1860 – 1880 on downside to 2000 – 2020 on upside.