EquityPandit’s Outlook for Lupin for the week (Mar 18, 2019 – Mar 22, 2019) :
BSE: 500257| NSE: LUPIN| ISIN: INE326A01037| SECTOR: PHARMA
Stock closed the week on positive note gaining +0.70%
Week High: 800.85
Week Low: 763.90
Week Range: 36.95
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for LUPIN at 745- 750 levels, whereas minor resistance on the upside is capped around 810 -820 levels.
If stock bank breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 700-690, if stock breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 860- 870
Currently trend for the stock is bearish as stock trading below 200 days exponential moving average. EquityPandit predicts LUPIN range for the week is seen from 860- 870 on upside & 700- 690 on downside.