EquityPandit’s Outlook for Lupin for the week (September 28, 2015 – October 02, 2015):
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 is positioned. If the stock manages to close above the levels of 1950 the stock can move to the levels of 2100. During the week the stock manages to move above the resistance zone of 1920 and hit a high of 2003 levels.
Support for the stock lies in the range of 1900 to 1920 from where the stock has broken out of the declining trend-line resistance.
The stock is in strong uptrend and the stock is approaching towards the all time high around the levels of 2100.
Broad range for the stock is seen from 1910 – 1930 on downside to 2060 – 2080 on upside.