EquityPandit’s Outlook for Lupin for week (July 13, 2015 – July 17, 2015):

LUPIN:

Lupin closed the week on negative note losing around 1.5%.

As we have mentioned last week that the stock is facing stiff resistance around the zone of 1900 where upward moving trend-line are positioned. If the stock manages to close above the levels of 1920 we may see huge spurt in the stock which may take the stock to the levels of 2000.

This week also the stock could not manage to close above the levels of 1920 and the stock sold off to the levels of 1850.

Support for the stock lies in the range of 1840 to 1860 where short term moving averages are lying.

Resistance for the stock lies in the range of 1930 to 1950 where upward moving trend-line are positioned.

Broad range for the stock is seen from 1850 – 1870 on downside to 1930 – 1950 on upside.