LUPIN
FY21-22 Swing Trade Idea #17: Long on LUPINThis is a public swing trade idea (other private ideas accessible through website) and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
LUPIN Long term After completing the Cup and Handle pattern and a strong boost in Pharma sector, Lupin finally broke it's resistance and showed a 150 point bull run in the market today. With the Governor's conference today not just LUPIN but other Pharma companies such as CADILA, SUNPHARMA etc. also got a lift in their stock prices.
If we see the chart the next upward targets for LUPIN could be 1322, 1401 and 1497 in long run. On the downside if we see a selling pressure in the market then it can trend towards 1085, 1048 and 1000.
Keep LUPIN in your watchlist for this month and enjoy the bull run.
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LUPIN : Large cap darkhorse of pharma spaceMonthly chart -
Weekly chart -
Have also included monthly and weekly charts, script seems to be bullish on all timeframes and currently consolidating which is a sign of healthy base. For short term, its in the range of 850-1100. Once this range is taken out decisively, fresh rally would be seen. Accumulate this as a strong portfolio pick.
Broad Market is helping Lupin!!!This hourly chart is clearly depicting the sentiments of the Broader Market Nifty Pharma. The Broader market is clearly on the verge of another breakout helping Lupin to gain that thrust. The support at the bottom is holding the stock whereas the volume is clearly helping the stock to rise further. It will be a great trade for short-term traders to ride till that resistance, but for Investors or positional traders, they do wait for that breakout of the resistance.
The Head and Shoulder pattern is also confirming the stock to go for a Bull Rally.
Buy LUPIN Intraday BUY LUPIN INTRADAY
BUY - ABOVE 1100
SL - 1095
TARGET 1110 1120
We Will Re-enter for positional if price sustains above 1125
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