EquityPandit’s Outlook for Lupin for the week  (July 03, 2017 – July 07, 2017) :

LUPIN:

Lupin closed the week on absolutely flat note.

As we have mentioned last week that the stock has broken down on long term charts. Virtually no support lies for the stock. Minor support for the stock lies in the zone of 1040 to 1050. Support for the stock lies in the zone of 950 to 960 where long term Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900. During the week the stock manages to hit a low of 1048 and close the week around the levels of 1060.

The stock has broken down on long term charts. Virtually no support lies for the stock. Minor support for the stock lies in the zone of 1040 to 1050. Support for the stock lies in the zone of 950 to 960 where long term Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900.

Resistance for the stock lies in the zone of 1080 to 1100 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1120 to 1140 from where the stock broke down after consolidation.

Broad range for the stock in coming week can be seen from 1000 – 1020 on downside & 1100 – 1120 on upside.