EquityPandit’s Outlook for Lupin for the week (August 22, 2016 – August 26, 2016):

LUPIN:

Lupin closed the week on negative note losing around 0.40%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 1620 to 1640. Resistance for the stock lies in the zone of 1650 to 1670 where long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1750 where the stock has formed a short term top. During the week the stock manages to hit a high of 1608 and close the week around the levels of 1576.

Minor support for the stock lies in the range of 1545 to 1560. Support for the stock lies in the zone of 1500 from where the stock broke out of the consolidation zone in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1400 where the stock has made a short term bottom.

Minor resistance for the stock lies in the zone of 1610 to 1620. Resistance for the stock lies in the zone of 1650 to 1670 where long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1750 where the stock has formed a short term top.

Broad range for the stock is seen from 1500 – 1510 on downside to 1650 – 1660 on upside.