EquityPandit’s Outlook for Lupin for the week (September 21, 2015 – September 25, 2015):

LUPIN:

Lupin closed the week on positive note gaining around 5%.

As we have mentioned last week that resistance for the stock lies in the zone of 1900 to 1950 where downward sloping trend-line are positioned. If the stock manages to close above the levels of 1950 the stock can move to the levels of 2100. The stock manages to hit a high of 1910 before closing the week around the levels of 1900.

Strong support for the stock lies in the range of 1830 to 1850 where short term moving averages are positioned. If the stock moves below this levels then the stock can drift to the levels of 1750 to 1800 where 100 and 200 Daily moving averages are positioned.

Resistance for the stock lies in the zone of 1900 to 1950 where downward sloping trend-line are positioned. If the stock manages to close above the levels of 1950 the stock can move to the levels of 2100.

Broad range for the stock is seen from 1770 – 1800 on downside to 1920 – 1950 on upside.