Lupin Positional Buy Level on Closing Basis
Buy Range 895 - 910
Target: 921, 939, 942, 948, 953, 959, 965, 970
Stock may bounce above 906 only. Keep watch Friday's low 905.
If trade below 905 then next bounce level between 895-901
Posting for Educational purpose only
Closing Basis means stock need to trade above 895-910 between 3:20 ~ 3.30 PM
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.
Price breaks 2 years of resistance ( 1000 levels ) finally and closed above 1060 resistance levels. Now we can expect the price to move on to 1180 resistance level and consolidate there.
In the pic you can clearly see the retest levels, here if you look into it price before this break out it actually breaks 1000 levels but unable to sustain and reached the...
On Friday Lupin closed above it's major Supply Zone @ 960-985.
If it will manage to sustain above this zone then in coming weeks it may test it's next Supply Zones @ 1085 and 1030-1070 on the upside.
This will be my positional trade for the next week.
I will update my trade and updates for this trade in this post. Follow this post to get the notification.
Thank X :)