Lupin Ltd. is showing a strong technical and fundamental profile, making it an interesting prospect for investors.
From a technical perspective, the stock exhibits several "Strong Bullish" signals. The HighLow indicator suggests "Strong Bullish" sentiment, with the stock near a one-year high and likely to make a new high. The daily candlestick pattern reflects...
Observations::
the stock is trending upwards in daily time frame.
now the price is facing resistance @800 range.
If price breaks this resistance we have an immediate resistance @810 range.
now the stock is looking weak in buyside, if it will sustain above 800-810 range we will observe some bullish momentum again.
if price breaks 770 range we will observe fall...
With prices closing above all the important EMA the stock is looking technically strong. One can look to enter the trade above 771 with a target of 848 keeping a stop loss of below 732. RSI is reaching almost at the 60 level mark. Once sustains above the mark the stock should give some momentum. Wait for RSI to move above 60 on the DTF.
The views presented are of...
There is a shark pattern formation on the weekly chart of LUPIN Ltd.
Chart structure is still weak, though we can see some positive price action at the harmonic pattern support i.e 590 --600
Sustaining the same, we could see some bounce in the stock uptill 700 levels initially.
LUPIN at a very crucial level and expected to reverse from this point.
Very High Risk : Reward trade.
Trade safe. Manage risk. Be profitable.
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Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
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.
I know it rallied the most but for short period one can buy... it formed flag pattern and another breakout can happen... take bull call spread with reduced risk of 5k (buy little Out of The Money) once you see the breakout of Days high.
Stock holds a good support near 790-800 levels, the same levels acted as strong resistance in the past and when crossed stock did spend some time near those levels and then moved upside.
Hence any dip in the stock if happens , price action near those levels should be watched carefully.
![LUPIN: Lupin: Probable Trade Setup [Investment Opportunity]](https://s3.tradingview.com/4/4gXYKrqb_mid.png "Lupin: Probable Trade Setup [Investment Opportunity]")
