NSE:LUPIN | (Intraday/Swing Trade)
Entry:- After Breakout (Either Side It Breaks)
Stop Loss :- Previous Support/Resistance or (According To You)
Target:- (40 Points) From Side It Breaks.
(Risk Must Be Managed.)
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Note: This is for educational purpose only.
There seems to be a pre-tested dynamic support at 21 EMA. 21 EMA above 55 EMA indicates short term uptrend. The only downside is that the slope of 21 EMA and 55 EMA is not too bullish. RSI nearing 60 indicates bullish momentum. Moreover, there seems to be a RSI trendline bullish breakout.
Trading in the triangle, triangle patterns always provide high probability and less RR ratio.
Trade on the break out of any side.
For SELL potential stop loss is 1016
For BUY 990.
High chance of breaking to downside, but we always need to be flexible.
Lupin can be bought above 1017, keep a stop of 985 and ride the momentum.
Last five days have seen, good volume too as a confirmation of pattern. An upside of 15-20% looks imminent from current levels.
Please carry due diligence and consult your financial advisor before taking any positions. Whatever is shared here is for research and education purposes, and not...
lupin Sell Neal 770
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