If u look at the chart of LUPIN (analysis based intraday only) the LUPIN support at 1035 and resistance at 1060.
The chart clearly indicates Bullish Trend you can also see the candle stick patters for more in depth analysis.
Symmetric Triangle Breakout Done and Can Break Resistance.
In Intraday most important thing is to enter and exit points.
Long opportunity in Lupin, as it has given breakout. All you can do is to enter into a trade near the zone. Let it retest its swing low, so that risk-reward ratio become favourable.
Note: Wait till you get rejection candle in daily time frame near the zone.
ALL THE LEVELS AND PATTERNS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
The indicator used:
1) Daily Lines plots Daily 20 (BLACK) & 50 EMA (GREY) on lower time frame charts
- PB : PULLBACK
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The analysis is my POV, hope you got...
Lupin is looking very bullish from here. It can give huge targets in the coming days. Descending triangle breakout - can expect good levels around 1080-1100 in coming days.
Buy - 975+
St Loss - 945-940
Target 1 - 1050+
Target 2 - 1100+
A very good trade with risk to reward ratio more than 1:3.
On a 1H chart of Lupin Supply seems to be quite dry out and it may now try to show pull back from current level.
Swing traders can consider these counter for long above 890, holing period should be of at least 7-8 days.
Prefer your stops below 820 only
This analysis is purely based on Price Action and Chart Patterns
Target may reach in intraday trade or in a couple of days.
Trade Strategies are shared in image itself with proper Entry level, SL and Target level
*Trade on your own risk and money management*
Feel Free to comment for any queries or suggestions
Lupin on daily chart tested its previous demand area and now looks like ready to move.
I am bullish in this counter for swing trade above 972 will get in if any 1H candle closes above the same.
will prefer to keep my SL below 905.