Embark on a strategic journey through Lupin's charts, revealing a promising trade opportunity in simple terms suitable for traders of all levels.
Current Market Position 📊:
LTF (75 min): Lupin is firmly situated within the 75-minute demand zone, specifically at the bottom and exhibiting a very inside structure.
ITF (Daily): Confirming the bullish sentiment, Lupin is comfortably nestled in the daily demand zone, signalling a favourable environment.
HTF (Weekly): On the weekly chart, supply zone is very far, and price is trading at fair location, providing a conducive backdrop for potential upward movements.
Trade Strategy 📈:
Entry: Plan a buy entry at the current market price.
Stop Loss (SL): Set the stop-loss just below the 75-minute demand zone, introducing a slight buffer around 1180.
Target: Aim for levels below the 75-minute supply zone, approximately around 1215.
Entry Price: Consider entering at the current market price of 1194.
Why Lupin Presents an Opportunity 🌟:
Demand Zone Alignment: Lupin is strategically positioned in both the 75-minute and daily demand zones.
Trend Observation: The daily sideways trend, combined with proximity to the 20EMA, indicates favourable conditions for a potential bullish move.
Weekly Outlook: supply zone is very far on the weekly chart adds strength to the potential trade.
Final Trade Thoughts 🚀: Lupin's current scenario isn't just an opportunity; it's a strategic move. With a keen focus on demand zones, and favourable weekly conditions, this trade deserves attention.
Trade Smart, Trade Confidently! 💹✨
Disclaimer 🚨: This analysis is for educational purposes only. I am not a SEBI registered analyst. Trade responsibly.