EquityPandit’s Outlook for Lupin for the week (November 15, 2016 – November 18, 2016) :

LUPIN:

Lupin closed the week on positive note gaining around 2.70%.

As we have mentioned last week that support for the stock lies in the zone of 1400 where the stock has made a bottom in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1280 to 1300 from where the stock has bounced in the month of March – 2016. During the week the stock manages to hit a low of 1383 and close the week around the levels of 1459.

Support for the stock lies in the zone of 1380 to 1400 where the stock has made a bottom in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1280 to 1300 from where the stock has bounced in the month of March – 2016.

Resistance for the stock lies in the zone of 1500 to 1510 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1550 to 1560 where medium term moving averages are lying.

Broad range for the stock is seen from 1380 – 1400 on downside to 1530 – 1540 on upside.