EquityPandit’s Outlook for Lupin for the week (October 17, 2016 – October 21, 2016) :

LUPIN:

Lupin closed the week on negative note losing around 2.40%.

As we have mentioned last week that the stock is trading around the levels of 1480 to 1500 from where the stock broke out of the consolidation zone in the month of June – 2016. Minor support for the stock lies in the zone of 1450. If the stock manages to close below these levels then the stock can drift to the levels of 1400 where the stock has made a bottom in the month of June – 2016. During the week the stock manages to hit a low of 1450 and close the week around the levels of 1465.

Minor support for the stock lies in the zone of 1450. If the stock manages to close below these levels then the stock can drift to the levels of 1400 where the stock has made a bottom in the month of June – 2016.

Minor resistance for the stock lies in the zone of 1490 to 1510. Resistance for the stock lies in the zone of 1540 to 1560 where short term moving averages and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1620 where long term moving averages are lying.

Broad range for the stock is seen from 1400 – 1410 on downside to 1510 – 1520 on upside.