EquityPandit’s Outlook for Lupin for week (July 20, 2015 – July 24, 2015):

LUPIN:

Lupin closed the week on positive note gaining more than 5%.

As we have been mentioning since last 2 weeks 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 and the stock hit the high of 1983 on 17/07/2015.

If the stock manages to cross above the trend-line resistance positioned around the levels of 2000 we may stock moving towards the levels of 2100.

Support for the stock lies in the range of 1900 to 1920 where short term moving averages are lying.

Resistance for the stock lies in the range of 2020 to 2050 where upward moving trend-line are positioned.

Broad range for the stock is seen from 1880 – 1900 on downside to 2050 – 2100 on upside.