Well,its actually a Cup and Handle pattern with yellow FLUTE as the neckline, awaiting the breakout/reversal. (in comment) AFter drawing the yellow zone, the price action to the left looked like a head and the yellow zone looked like a flute.So went ahead and drew the rest of Krishna :D
LUPIN is moving around the neckline for a while currently in the breakout/reversal zone
Lupin is trading in downward channel. At Support of channel, it made pattern like morning star. Wave counting is also suggesting that 2nd wave is completed here and 3rd wave is to start.
CNXpharma has possibly bottomed out at 8315; atleast for the medium term 1. Completion of ABC correction (A=C) 2. Recent low at 8315 sits rights above a major consolidation zone 3. Recent Low also falls along a trendline support 4. RSI divergence on weekly and daily charts A full EW count is not possible since the index is barely 4 years old and its...
As per weekly charts, LUPIN is a must buy for long term as stock can double in a year and can act as a defensive stock if market goes into bearish mode.
The Stock is in a corrective mode on longer term charts but this pattern may act as a pain killer if it works on daily time frame. Notes on the chart. Hit Like/Comment/Share if you think this information can be useful. Trade Safe Regards Bravetotrade
Lupin has entered the breakout/reversal zone blue box. Its been down for 3 months straight, breaking the previous 52 low . Its making lower highs and lower lows ever since reaching a 3-year low mark. Cant be sure of a correction leg up untill it breaks the previous high and makes a higher high. Got to see if it reverses or breaks out of the long channel.
Enter LUPIN above 1067 for positional with SL of 1050. Hedge with in the money put
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.
Target Looks Like 1507 Channeling and bottoming are the main reason here .
for educational purpose only - lupin is a good stock to buy above 1485 with sl of 1462 with tgt 1510
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...
FOR EDUCATIONAL PURPOSE LUPIN IS MOVING BETWEEN TWO TRENDLINES. BUT NOT A CLEAR MOVE IS SEEN BUT A STRONG CLOSING ABOVE 1520 WITH VOLUME WILL GIVE A CLEAR UPMOVE UPTO 1680 WITH SL OF 1490. BUT BELOW 1420 A SWIFT BREAKDOWN UPTO 1270 WITH SL OF 1450. BUT A DOWNSIDE BREAKDOWN MIGHT BE SEEN.