Lupin Outlook for the Week (Sept 04,2020 – Sept 18,2020)


For the Week: (Sept 04,2020 – Sept 18,2020)

7 LUPIN

BSE: 500257| NSE: LUPIN| ISIN: INE326A01037| SECTOR: PHARMA

Stock closed the Weekly on positive note gaining +2.40%

Lupin Share Price: 967.65 (NSE)

Weekly High: 973.00

Weekly Low: 911.80

Weekly Range: 61.20 Points

Weekly Support & Resistance For Sun Pharma:

RESISTANCE 2 1180.00
RESISTANCE 1 1040.00
SUPPORT 1 925.00
SUPPORT 2 879.00

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 925 levels, Minor resistance on the upside is capped around 1040 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 879 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 1180.

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the Weekly as 1200 on upside and 800 on downside.

Stock forming falling channel pattern once breaks 990-1000 and closes above the levels will test all time highs, Strategy to buy once breach 1000 should hold good for the stock.