LUPIN Form strong resistance or supply zone 1542-1550 From here stock move down 7. I was shorted 5-6 Times at this level now again tried here.. lets see
Lupin Ltd. trading in consolidation for long time and now it is again touching the strong support 1391.26 and we may see this stock to go upward with a target 1st 1543.89 and 2nd 1641.00, trader may enter this stock long but wait till retest of support again for better entry price between 1395-1400. risky traders my enter a cmp with stop loss 1380.00
Lupin after falling from highs is expected to complete ZZ correction with
WC =0.618WA near
Now the possibilities of lupin are
1. create complex correction with W as ZZ
2. Create Double ZZ
3. Create change in cycle.
now one minor cycle 1-2/1-b is expected to be completed in lupin.
cmp 1495
SL 1440
Target 1 1570
Target 2 1636
Reward min ...
Clear Bollinger Band setup - target upper band
+ve RSI deviation
Trade initiation if close above both TLs
Medium term target - upper end of channel
SL : 1450
Lupin is setting for good pattern on monthly bar. here offer get risk reward not for investor but for trader also. positional delivery buy stop 1400 for short term trading call one may take 1460 as stop loss. all are cash level
NSE:LUPIN ....Lupin is breaking down from 1500 levels. there is a multi-time frame weakness visible on both daily and weekly charts. Pharma stocks are known to react to news very sharply and sudden turnaround is not ruled out. Trade with caution.
Target: 1400
Stoploss:1560
