NeeteshJain
Long

LUPIN - Bullish Flag Breakout

BSE:LUPIN   LUPIN LTD.
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32
1422 8
It is been observed on the hourly chart that the price action breaks above the consolidating flag pattern indicating a bullish move ahead tomorrow.

Target: 1050

SL- 980
Trade active
Comment: Now, building up momentum
Comment: SL revised to 965 if it closes below it then it shall be a trend change.
Trade closed: stop reached
Comment: If Lupin breaks above consolidation and 1010 levels then it shall further reach to the mentioned target of 1050 levels. #watchlist.



Thanks
Comment: It did break above the consolidation and moving towards 1050.

Lost 6k in this trade.
Dear sir, i am not complaining but just updating status for all the trades. Last week updated for titan as well. You are doing great job and help by sharing your trading ideas here
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yea ,tight range between the two center lines. < a different way to look at the same chart :) >


+1 Reply
NeeteshJain Einstein15
@Einstein15, This looks even better, let me know how did you draw such lines and what is the purpose or significance of it?

Thanks for sharing.
Reply
Einstein15 NeeteshJain
@NeeteshJain, Well, if you are talking about the tool used, its just a PARALLEL CHANNEL tool instead of simple trendline tool.
I like it better than a single line, coz we can adjust the width of it, which act as a range rather and a level.
What i mean is, how sup/resitance is not always a single level, but a small range, the width of tool defines the range.
Like how in YOUR lupin chart above, the support is a range from 920 to 924. and one needs two lines(not one) to cover the double bottoms
Same goes with the trendlines.The width help to cover lot more spikes and smooth out the pattern

+1 Reply
entered 1001
+1 Reply
NeeteshJain charishpal
@charishpal, Good, keep holding it, it is indicating a strong uptrend.
Reply
Infy resisted at 925
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@Sarsans, Yes, now once it breaks above it then it shall further move up to 960 levels.
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