Lupin Outlook for the Week (Oct 12,2020 – Oct 16,2020)


For the Week: (Oct 12,2020 – Oct 16,2020)

7 LUPIN

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

Stock closed the Weekly on positive note gaining +0.13%

Lupin Share Price: 1029.20 (NSE)

Weekly High: 1055.85

Weekly Low: 1012.65

Weekly Range: 43.20 Points

Weekly Support & Resistance For Lupin:

RESISTANCE 2 1163.00
RESISTANCE 1 1127.00
SUPPORT 1 1006.00
SUPPORT 2 968.00

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1006 levels, Minor resistance on the upside is capped around 1127 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 @ 968 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 @ 1163.

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 950 on downside.

On the daily chart we can see that, stock is break very important resistance here and Stochastic RSI shows some positive strength in stock but the SMA 200.