BombayBulls
Long

Lupin Limited - Latched In The Middle - 9/19/2016

NSE:LUPIN   LUPIN LTD
59 0 0
Technically speaking, Lupin             Limited stock price is right in the middle of strong support and resistance areas. Given the possibility general equity shake up during the Fed meeting, it is unlikely that it can cross 1700 easily on the upside. Besides there is always a possibility of some black swan event to punish the pharma             stock lurching around the corner which can throw it down again to test the support area near 1400 / 1300.
So what's the trade? Well, wait for the lows towards 1300 for a buy if everything else remains same. Here everything else means the general mood and conditions for equity markets to either flourish or survive !
Should there be any scenario where it can plummet down into the abyss testing the next major support near 1000? ;) You never know ! And someone who has the plan to reap the rewards of a equity plunge that far will certainly reap the millions in near future, wouldn't he? :)
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