Up sloping Pitchfork is capturing the frequency nicely and thus offering a good trade with small stop Loss. One can trade it in the following manner
Entry 732
SL 724 (closing below on hourly basis)
Target 760
Risk/Reward Ratio 3.50
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
SHORT LUPIN BELOW CROSSOVER OF THE PENNANT FORMATION.
CONFIRMATION: RSI ALSO NEEDS TO BREAK TREND LINE.
DISCLAIMER: THIS IS FOR THE EDUCATIONAL PURPOSE, TRADE ACCORDING TO YOUR ANLYSIS.
LUPIN : Pulling down itself. As said on 13th Aug 2019, in INTRADAY Trading u can SELL Lupin if crosses 755. The low made was 746. Those who traded it, well n good !
LUPIN : In the verge of a break-out/break-down, in short term ... For intraday, can be traded LONG if crosses 771.95 n can be SHORTED if crosses 755 ...
The first day of August futures showed nice buying done in the pharma sector. Lupin once if cracks and sustains above 780 cash levels can show 790 and 800 plus targets in the coming week. A buy on dips is recommended in this counter with a Stop of 765/762.
The red line is the Stop.
Green is the CMP.
Purple lines are the two targets!!!
Lupin is stuck in a range according to older price actions taking place at these levels. If one wants to go long, a close above 782/784 is mandatory with a strong green candle. 767 and 762 will act as a major supports for the coming week. If it breaks 761 / 759 downside support is at 752. So, don't be in a rush to short. There are multiple supports till 730 and...
lupin Sell Neal 770
Stoploss 782
Target 758-750
Reasons For Trade- 1.Excess Selling near to 4 Hour resistance
2.Price formed bearish candlestick patter near resistance
3. Daily Trend is down
4. Risk Reward 1:1
Lupin Buy near 745-740 Target 765-775 Stoploss 725
Reasons For Trade- 1. Price has closed abover important support level of 740 on daily chart 2.Excess buying is done 725-730 levels.
3. Price has formed lower high on daily chart.
4.Price has filled gap near 725-730 levels.
5.Bullish candlstick pattern is formed on daily as well as weekly chart
6. Risk Reward is 1:1
