EquityPandit’s Outlook for Lupin for the week (December 14, 2015 – December 18, 2015):
Lupin closed the week on negative note losing around 3.60%.
As we have mentioned last week that strong resistance for the stock lies in the zone of 1840 to 1870 where 100 & 200 Daily SMA are positioned. If the stock closes above this levels then the stock can move to the levels of 1900. During the week the stock manages to hit a high of 1836 and sold off to close the week around the levels of 1740.
Support for the stock lies in the range of 1688. If the stock closes below the levels of 1688 then the stock can drift to the levels of 1600 where channel support for the stock is lying.
Resistance for the stock lies in the range of 1780 to 1800 where short term moving averages are lying. If the stock manages to close above this levels then the stock can move to the levels of 1840 to 1870 where 100 & 200 Daily SMA are positioned.
Broad range for the stock is seen from 1630 – 1650 on downside to 1800 – 1820 on upside.