LUPIN
LUPIN Near Breakout of Descending trendline for target of 1120+Since last 2-3 month trading sessions its creating descending trendline pattern. Stochastic RSI showing strong bullish crossover near the resistance line. So, Expected It will break out of downward trend in coming trading session. Once breakout and it's trading above 990 then it will go to 1085 to 1120 target soon.
Possible Trade:
Buy LUPIN Above 990
Stop-loss 930
Target 1085 1120+
LUPIN- CUP & HANDLE AND NARROW RANGE 7#LUPIN IS FORMING A CUP AND HANDLE CHART PATTERN AND A NARROW RANGE 7 STOCK FOR 28/12/2020
WE CAN EXPECT A BREAKOUT .RED LINES ARE MAJOR SUPPORT & RESISTANCE.GREEN LINE IS THE TARGET.
CONSIDER THESE POINTS BEFORE ENTERING INTO TRADE;
WAIT FOR A PROPER CONFIRMATION BREAKOUT BY VOLUME AND MOMENTUM
SET STRICT STOPLOSSES OR ON PREVIOUS SWING AS PER YOUR RISK APPETITE
DONT ENTER ON FIRST CANDLE AND WAIT FOR MARKET BEHAVIOUR
FOLLOW NIFTY & SECTORS FOR DOUBLE CONFIRMATION
ENTER ONLY ON PROPER POINTS.AVOID TRADE IF YOU ARE NOT ABLE TO ENTER ON THE CORRECT POINT
DONT TRADE AGAINST TREND AND INDICES
FOLLOW FOR MORE TRADE IDEAS AND INFORMATION
LUPIN - FLAG & POLE PATTERNA flag and pole pattern is a clear cut indication of consolidation followed by a breakout. A BIG BREAKOUT...........
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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Happy Trading!!