Lupin has been consolidating for last few sessions and a directional breakout is expected very soon and if it happens to upside, we can see some good 50 points run on the trade. Yes, I'm expecting it but on Bearish breakout also you can take the trade, The thing about consolidation & ranging is many think that predicting direction is right approach. NO. Let Market...
Reasons to Short :
1. Cloud Breakout
2. pullback at 38.2 Fib Level
3. Resistance at 50 period EMA
4. Wicks at 1162 Resistance level.
5. Evening Star
6. Downtrend, obviously :)
Entry, SL, Targets are as plotted on Chart.
Lupin is a BUY at CMP@1470 with SL@1420 for a target of TP@1600
Lupin gets USFDA nod to market pain relief, colonoscopy drugs and also gets FDA approval for generic Percocet tablets .
Lupin recently received FDA approval for generic Suprep Bowel Prep Kit and Suprep kit approval It may add 5% to Lupin’s EPS for FY18 earnings.
In addition the pharma major’s Goa...
My guess is, it is an accumulation zone. The clue to look forward is a test of the lower end of the range with relatively lower volume, followed by a sharp rally or a green wide-ranged-bar.
It is been observed on daily and weekly chart that the price action consolidated within a downward trend line and now it breaks above the downward trend line on daily and weekly chart indicating a bullish move ahead.
Target: 1650
Stoploss: 1500
Regards
Lupin has been trading in down trend channel and recently tested the channel resistance and moved towards the channel support and long term support of 1400-1397, traders may enter short for a target of 1397 in near term and stop loss just above the trendline breakout around 1530.
Diamond pattern is relative rare pattern. It has not given the breakout out yet but one can put it into watch list and trade accordingly. Another possibility that exists right now is that it may go to touch other side of the pattern around(1520) so a 60-70 points points move is possible and thereafter another trade on breakout.
Lupin Ltd. trading in consolidation for long time and now it is again touching the strong support 1391.26 and we may see this stock to go upward with a target 1st 1543.89 and 2nd 1641.00, trader may enter this stock long but wait till retest of support again for better entry price between 1395-1400. risky traders my enter a cmp with stop loss 1380.00
Clear Bollinger Band setup - target upper band
+ve RSI deviation
Trade initiation if close above both TLs
Medium term target - upper end of channel
SL : 1450
NSE:LUPIN ....Lupin is breaking down from 1500 levels. there is a multi-time frame weakness visible on both daily and weekly charts. Pharma stocks are known to react to news very sharply and sudden turnaround is not ruled out. Trade with caution.
Target: 1400
Stoploss:1560
