Aditya_Singh21

SHORT ON LUPIN (NSE)

Short
NSE:LUPIN   LUPIN LTD
This analysis is only for educational purposes, Invest at your own risk!

  • LUPIN closed at 841.80 on Friday with a decrease in its price and very low volume .
  • The Pitchfork drawn shows a downtrend with the stock price approaching its resistance line.
  • Since the gap between the stock and its 52 week high is pretty close therefore a stop loss should definitely be placed just around 855 INR .
  • The stock may prove to be profitable is shorted at price range 841-836 INR and bought back at around 825-835 INR .
  • A down trend in both the volume and 20 period RSI can be seen.

ALL THE BEST TO EVERYONE !
Cheers!

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