Hello mates, As I know that this is month starting and this is not a appropriate time to analyze a chart on monthly time frame but I want to go some in deep to find out a pattern or kind of a reversal signs from strong support zones in it in Lupin so I may be find out some useful things could help someone that is all that it breaks a falling trendline on monthly...
Stock Name - Lupin Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 727
#This is not Buy and Sell recommendation to any one. This is for education purpose...
Price & Volume relationship
Yes, Volume is supporting upside movement.
Wait for breakout & Once the pattern along with that swing high is taken out we can enter, and Fresh Buy can initiate.
Lupin looks very weak on the daily charts.
Trade setup according to the 3 parameter strategy
Short - 632 Enter the trade near the close
Stoploss - 664 for the aggressive traders
Target 1 - 613
Target 2 - 557
Lupin at a support level, you can go short once it breaks the level. ⚠️ The volume of the breakout/breakdown candle should be good enough.(/or the breakout candle should be strong). Place Stop-loss logically // Ignore if the stock opens gap-up or gap-down. // Trade with your own risk // Trail your stop-loss once it reaches 50% of the target. Target1 : 667Rs &...
Lupin is on the verge of a breakout from consolidation and looks good if sustains above 666 for the marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
InvestPro India Team
NSE:LUPIN has just completed wave 1 which was a leading diagonal, with deep corrective wave 2 almost 0.236 of fibo retracement and also healthy volume built-up which looks good to buy, with Sl of 594 and Target of 733 , 881 .
LUPIN : near Breakout on daily chart. wait for breakout.
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I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Swing trade set up
Buy Active for the target of 772 / 785 / 806 / 829 / 865. reaccumulate at 708. with 666 on day closing basis.
Short term and Long term Set Up
best buying area is at 550 to 504.
one can start accumulating from 629 / 575 /550.
for higher target of 670 / 785 / 872 / 900 / 972 / 1114 / 1200.
Stop loss will be weekly closing below 500.