stock has formed a cup and handle pattern. A sustained move above 1418 should be considered as a breakout. The measured target is coming in the range of 1455-1460.
Currently, Lupin is trading at 50ema and DBR Support zone. If you look at the previous chart pattern, you will see that Lupin always took support from the 50 Ema end support zone and bounced.
So we can plan a buy trade at the current levels and it will be a low risk and high reward trade.
I hope this analysis was helpful to you. If so, I would appreciate it if...
Price & Volume relationship
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Yes, Volume is supporting upside movement.
Wait for breakout & Once the pattern along with that swing high is taken out we can enter, and Fresh Buy can initiate.
NSE:LUPIN
Observations:
1) On 1 day time frame, we can see that it bounce from 100DMA and closed near immediate resistance level of 960
Please refer below chart : 1day Time Frame.
2) On 1hr time frame we can see it is making ascending triangle pattern. Breakout and retest of 960-970 level range will give up move. But if it face resistance and failed to...
![LUPIN: Simple Trade Setup | LUPIN | 20-01-2022 [INTRADAY]](https://s3.tradingview.com/u/UclvT1NW_mid.png "Simple Trade Setup | LUPIN | 20-01-2022 [INTRADAY]")
