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vanathi
Mar 17, 2017 4:50 PM

Lupin - Awaiting for break out! Long

LUPIN LTDNSE

Description

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.
Keep it in watch list. I will update the target once the price breaks and closes above the downwards trendline.

Comment

Still sideways!
Comments
kgnirmal
Good one
vanathi
@kgnirmal, Thank you...
dinsha
It seems like need to cross 500-1525 with large volume.It may take another week and depends upon market current flow.
vanathi
@dinsha, Thank you for sharing your view...
darshanisnowhere
Absolutely correct !!
Strong support also clearly seen at 1400 levels ! May be chances of breaking up side is very likly
vanathi
@darshanisnowhere, Thank you for sharing your view...
kedarjoshi
vanathi
@kedarjoshi, Correct. Thank you for sharing the chart.
NeerajJain
@vanathi, Ajanta pharma looks like has given the breakout from that downward slope.
kedarjoshi
Madam, Also check out Ajanta Pharma. Similar Chart. looks like bottoming out.
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