Long above 750 suggested.
Target 800 plus.
1) Stock trading at support zone.
2) Bullish divergence in MACD observed.
3) Support zone + Bullish divergence has had a strong counter trend rally in the past.
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.
Lupin LTD is still stuck in well entrenched downtrend. The moment it tries to gather itself up, some bad news hits the stock. Latest development is that USA is moving towards some kind of price manipulation of drugs. This news has hit majority of Indian pharmaceutical company stocks and they all are moving in the same downward direction.
But well, we all know...