EquityPandit’s Outlook for Lupin for the week (October 24, 2016 – October 28, 2016) :

LUPIN:

Lupin closed the week on positive note gaining around 2.40%.

As we have mentioned last week that 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 1442 and close the week around the levels of 1500.

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.

Resistance for the stock lies in the zone of 1520 to 1530 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 1560 to 1570 where medium term moving averages are lying.

Broad range for the stock is seen from 1450 – 1460 on downside to 1550 – 1560 on upside.