EquityPandit’s Outlook for Lupin for the week (September 19, 2016 – September 23, 2016) :

LUPIN:

Lupin closed the week on negative note losing around 2.10%.

As we have mentioned last week that minor support for the stock lies in the zone of 1540. Support for the stock lies in the zone of 1500 from where the stock broke out of the consolidation zone in the month of June – 2016. 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 short term bottom. During the week the stock manages to hit a low of 1523 and close the week around the levels of 1537.

Minor support for the stock lies in the zone of 1520. Support for the stock lies in the zone of 1480 to 1500 from where the stock broke out of the consolidation zone in the month of June – 2016. 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 medium term bottom.

Minor resistance for the stock lies in the zone of 1560. Resistance for the stock lies in the zone of 1580 to 1600 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 1650 where long term moving averages are lying.

Broad range for the stock is seen from 1480 – 1490 on downside to 1580 – 1590 on upside.