LUPIN: Multi-Year Breakout: Monthly Timeframe: Sep 24

Oct 3, 2024

LUPIN: Multi-Year Breakout: Monthly Timeframe: Sep 24

• Stock broke the high it made in Apr'15 & Oct'15 in Aug'24. A multi-year breakout on a monthly time frame
  
• RSI (77) is just above 60 - Indicating good buy demand
  
• Breakout in Sep happened with above average trade volume (9 SMA)
  
• Entry on 03-Sep
  
• Target = Breakout level + Drawdown during consolidation phase = 2125 + 1632 ~ 3750
  
• ATR = 161.5
  
• SuperTrend = 1544.35
  
• Stop Loss = 1 ATR below previous month's low = 1900 - 161.5 = 1738.5
  

Oct 4, 2024

Trade active

Bought on 03-Oct @ 2240 and 2259.85