EquityPandit’s Outlook for Lupin for the week (April 22,2019 – April 26,2019):
BSE: 500257| NSE: LUPIN| ISIN: INE326A01037| SECTOR: PHARMA
Stock closed the week on positive note gaining+3.75%
Week High: 834.10
Week Low: 803.95
Week Range: 30.15 Points
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for LUPIN at 820- 825 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 800-805, 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 875- 880
Currently trend for the stock is bullish as stock trading above 200 days exponential moving average.
EquityPandit predicts LUPIN range for the week is seen from 875- 880 on upside& 800- 805 on downside.