EquityPandit’s Outlook for Lupin for the week (September 14, 2015 – September 18, 2015):
Lupin closed the week on negative note losing more than 2%.
As we have mentioned last week that if the stock moves below the levels of 1840 on closing basis the stock can drift to the support zone of 1720 to 1780 where 100 and 200 Daily moving averages are positioned below which the stock can drift to the levels of 1600 and the stock manages to hit a low of 1755 during the week and bounced back to close the week around the levels of 1810.
Strong support for the stock lies in the range of 1730 to 1770 where 100 and 200 Daily moving averages are positioned below which the stock can drift to the levels of 1600.
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 1720 – 1750 on downside to 1880 – 1910 on upside.