Lupin Ltd.

Dec 25, 2024

The chart for Lupin Ltd. (NSE) exhibits a bullish Cup and Handle pattern on a longer timeframe, complemented by a flag pattern in the short term. The cup formation, spanning from 2015 to 2022, suggests accumulation, with a breakout point near INR 2,100, which also forms the handle’s consolidation zone. A breakout above INR 2,200 confirms the pattern, with long-term targets around INR 3,300 based on the cup’s height. In the short term, the flag pattern, formed by the sharp rally from INR 1,600 to INR 2,200 (flagpole) and subsequent consolidation, signals continuation if the price breaks above INR 2,200, targeting INR 2,800. For a long trade, enter on a confirmed breakout above INR 2,200, with targets at INR 2,500, INR 2,800, and INR 3,300, while maintaining a stop loss below INR 2,000. Alternatively, buying near the flag’s lower boundary (INR 2,050–2,100) offers a favorable risk-reward setup. If the price breaks below INR 2,000 with volume, a short trade could target INR 1,800 or INR 1,600. Always confirm breakouts or breakdowns with strong volume to avoid false signals.