VaibhavVatkar
Long

Joining the trend with Demand

NSE:LUPIN   LUPIN LTD
Lupin has been making Up trend on Daily Time Frame.
The marked zone forms like Rounding Bottom Formation, with a classic Demand Zone Formation.
There is no Supply Zone on Daily Time Frame till ₹ 1020, opening up R:R for the long trade.
Both 10, 20 EMAs coincide with the zone. If they still remain coincident with both the zone and latest trading price at the time of entry, it may add to better probability for this trade.
One of the cons of this trade is that the green bullish candle of Jan 5, has not been able to close satisfactorily above the bearish candle of Dec 29, giving rise to doubt that probably this price movement can be a fake one, to trap and stop us out.
Looking to take advantage of this zone to join in the trend.

Disclaimer: The Analysis, nowhere recommends to follow it, nor does it recommend nor does it give any advisory to buy/sell. This is not an investment advisory and only an educative analysis.
Trade active: Trade got Entry on 31-01-2018
The bearish move due to which we have got entry has opened up R:R for our trade.
However we see that averages do not coincide, as per our original analysis above.
It has lessened our probability for this trade.

Would be strict with SL and Target, as next day we have Budget Session.
Trade closed: stop reached
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