EquityPandit’s Outlook for Lupin for the week  (Oct 08, 2018 – Oct 12, 2018) : 

LUPIN:

Lupin closed the week on negative note losing around 6.90%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 915 to 925. Resistance for the stock lies in the zone of 940 to 950 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990 where high for the month of January-2018 is lying. During the week the stock manages to hit a high of 914 and close the week around the levels of 839.

Support for the stock lies in the zone of 820 to 830 where long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 790 to 800 where low for the month of July-2018 and August-2018 is lying.

Resistance for the stock lies in the zone of 860 to 870 where short & medium term moving averages and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 900 to 910 from where the stock broke down after consolidation.

Broad range for the stock in coming week can be seen from 780 – 800 on lower side & 900 – 920 on upper side.