EquityPandit’s Outlook for Lupin for the week  (Oct 16, 2017 – Oct 19, 2017) :

LUPIN:

Lupin closed the week on positive note gaining around 2.20%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1030 to 1040 from where the stock broke down from July-2017 low. If the stock manages to close above these levels then the stock can move to the levels of 1070 to 1080 where Fibonacci levels are lying. During the week the stock manages to hit a high of 1071 and close the week around the levels of 1062.

Support for the stock lies in the zone of 1030 to 1040 from where the stock broke out of September-2017 highs. If the stock manages to close below these levels then the stock can drift to the levels of 990 to 1000 where short term moving averages are lying.

Resistance for the stock lies in the zone of 1070 to 1080 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1100 to 1110 where Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 1020 – 1030 on lower side & 1100 – 1110 on upper side.