EquityPandit’s Outlook for Lupin for the week  (Oct 09, 2017 – Oct 13, 2017) :

LUPIN:

Lupin closed the week on positive note gaining around 2.50%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1030 to 1040 from where the stock broke down from July-2017 low and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1070 to 1080 where Fibonacci levels are lying. During the week the stock manages to hit a high of 1045 and close the week around the levels of 1039.

Minor support for the stock lies in the zone of 1015 to 1025. Support for the stock lies in the zone of 990 to 1000 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 950 to 960 where Fibonacci level is lying.

Resistance for the stock lies in the zone of 1030 to 1040 from where the stock broke down from July-2017 low. If the stock manages to close above these levels then the stock can move to the levels of 1070 to 1080 where Fibonacci levels are lying.

Broad range for the stock in coming week can be seen from 1000 – 1010 on lower side & 1070 – 1080 on upper side.