IbankerSid

Weekend series - Lupin - Long above 900/904

Long
NSE:LUPIN   LUPIN LTD
Lupin has reversed after a brief downfall and is now taking a psychological resistance at 900 levels. Safer to buy above 904/905 but if you're in early entries, set your first target around 904/905 (trail there)

Reasons for long:
1)The price action suggests that the price has reversed and has reversed strong
2)Good strong ending to the day
3)The option chain is very bullish at 900 (highest OI and change in OI by miles)

The levels of support and targets are drawn on the chart for your convenience. As always, trail diligently and always work with stop losses as markets are supreme.

#Disclaimer: Consult your financial advisor before any trades.
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Comments

Good analysis
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IbankerSid skajale
@skajale, Thanks sirjee
Reply
Nicely explained. Thanks
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