EquityPandit’s Outlook for Lupin for the week  (Oct 30, 2017 – Nov 03, 2017) :

LUPIN:

Lupin closed the week on negative note losing around 4.70%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 990 and close the week around the levels of 1001.

Support for the stock lies in the zone of 990 to 1000 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.

Resistance for the stock lies in the zone of 1025 to 1035 from where the stock has broken down. 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.

Broad range for the stock in coming week can be seen from 950 – 960 on lower side & 1050 – 1060 on upper side.