vanathi
Long

Lupin - Awaiting for break out!

NSE:LUPIN   LUPIN LTD
246 15 7
Lupin             has support at 1400 - 1425 levels in weekly chart. It has formed a double bottom too. Price is consolidating inside the trendline . Price have to move up and break the downward trend line to prove its bullishness. Also price action is forming a rounding bottom in weekly chart. Now lets see the daily chart . Pattern is same as weekly chart.
snapshot
Keep it in watch list. I will update the target once the price breaks and closes above the downwards trendline .
Comment: Still sideways!
Good one
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vanathi TOP kgnirmal
@kgnirmal, Thank you...
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It seems like need to cross 500-1525 with large volume.It may take another week and depends upon market current flow.
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@dinsha, Thank you for sharing your view...
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Absolutely correct !!
Strong support also clearly seen at 1400 levels ! May be chances of breaking up side is very likly
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vanathi TOP darshanisnowhere
@darshanisnowhere, Thank you for sharing your view...
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vanathi TOP kedarjoshi
@kedarjoshi, Correct. Thank you for sharing the chart.
Reply
NeerajJain vanathi
@vanathi, Ajanta pharma looks like has given the breakout from that downward slope.
Reply
Madam, Also check out Ajanta Pharma. Similar Chart. looks like bottoming out.
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