EquityPandit’s Outlook for Lupin for the week (November 01, 2016 – November 04, 2016) :

LUPIN:

Lupin closed the week on negative note losing around 0.80%.

As we have mentioned last week that resistance for the stock lies in the zone of 1520 to 1530 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1560 to 1570 where medium term moving averages are lying. During the week the stock manages to hit a high of 1544 and close the week around the levels of 1488.

Minor support for the stock lies in the zone of 1450. 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 bottom in the month of June – 2016.

Resistance for the stock lies in the zone of 1520 to 1530 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1550 to 1560 where medium term moving averages are lying.

Broad range for the stock is seen from 1440 – 1450 on downside to 1530 – 1540 on upside.