EquityPandit’s Outlook for Lupin for the week (April 15, 2019 – April 19, 2019):
BSE: 500257| NSE: LUPIN| ISIN: INE326A01037| SECTOR: PHARMA
Stock closed the week on positive note gaining + 5.15%
Week High: 829.80
Week Low: 789.15
Week Range: 40.65 Points
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for LUPIN at 780- 770 levels, whereas minor resistance on the upside is capped around 850- 860 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 730-725, 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 900- 910
Currently trend for the stock is bearish asstock trading below 200 days exponential moving average.
EquityPandit predicts LUPIN range for the week is seen from 900- 910 on upside& 730- 725 on downside.