LUPIn BREAKING OUT FROM OVER A 3-MONTH TIGHT CONSOLIDATION.
Updated
LUPIN is breaking out from over a 3-month tight consolidation on good volume. The daily RSI has moved into the bull zone above 60, & its relative performance to CNX 500 is positive and is making higher lows. Its monthly & weekly structure is bullish. On the fundamentals its EPS & sales have been rising for the last 5 quarters. If the breakout sustains, we can see some good rally in the counter.
Disclosure: Only personal analysis. No recommendation. Please consult your financial advisor for any decision.
Disclosure: Only personal analysis. No recommendation. Please consult your financial advisor for any decision.
Note
Today’s price action is indicating a failed breakout. The reaction appears to be due to US FDA’s 6 observations on pre-approval inspection of Lupin’s Somerset unit in the US.
Raju KMS Datla
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