EquityPandit’s Outlook for Lupin for the week  (Sep 18, 2017 – Sep 22, 2017) :

LUPIN:

Lupin closed the week on positive note gaining around 4.10%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 985 to 990. Resistance for the stock lies in the zone of 1000 to 1010. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1040 from where the stock broke down from July-2017 low. During the week the stock manages to hit a high of 1018 and close the week around the levels of 1010.

Minor support for the stock lies in the zone of 985 to 990. Support for the stock lies in the zone of 950 to 960 where Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 870 to 880 where long term Fibonacci level is lying.

Minor resistance for the stock lies in the zone of 1000 to 1010. Resistance for the stock lies in the zone of 1030 to 1040 from where the stock broke down from July-2017 low and short term moving averages are lying. 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 970 – 980 on downside & 1050 – 1060 on upside.