EquityPandit’s Outlook for Lupin for the week  (Aug 28, 2017 – Sep 01, 2017) :

LUPIN:

Lupin closed the week on positive note gaining around 5.80%.

As we have mentioned last week, that resistance for the stock lies in the zone of 950 to 960 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1040 from where the stock broke down from July-2017 low. During the week the stock manages to hit a high of 999 and close the week around the levels of 992.

Minor support for the stock lies in the zone of 975 to 980. Support for the stock lies in the zone of 950 to 960 where Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 870 to 880 where long term Fibonacci level is lying.

Resistance for the stock lies in the zone of 1000 to 1010. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1040 from where the stock broke down from July-2017 low.

Broad range for the stock in coming week can be seen from 950 – 960 on downside & 1030 – 1040 on upside.