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algomojo
Jun 5, 2018 9:45 AM

Lupin Potential Short Covering Rally Long

LUPIN LTDNSE

Description

Lupin price is in onsecutive slide mode for last 6 days. Momentum Sellers driven the price down possiblly now the momentum got exhausted. Time to looks for potential short covering rally towards 784 and higher within 1-2 days timeframe.

Trade closed: stop reached

Time based stop reached - 2 days timeframe got over.
Thought some other bullish setup holds current pattern gets invalidated.
Comments
algomojo
Day High 776. Still the context stays towards 786 on day 2.
dcchakravarty
Nice!
gpreddy1989
HI Sir,Great prediction...Could you guide us how you are identifying short covering rally
algomojo
@gpreddy1989, using market profile studies.
Janta41
Great
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