LUPINBullish Bat | Lupin | 15 Min TMF
Prz Zone - b/w 810 to 818
Stop Loss - 800
Target 1 - 835
Target 2 - 840
Target 3 - 860 - 865
LUPIN
Lupin on weekly chart looking weak.NSE:LUPIN
Lets Read The Chart And Observe It
If you see the tail candle of 9th March 2020 week you can clearly see prices was rejected from the low of 504 and close at 605 volume was also good (Above Average).
Next candle of 16th march 2020 is also bullish candle with higher volume than previous candle. The 23th march 2020 candle was strong bearish candle form in supply area of 9th March candle.
Now come to the candle of 30th march nice strong bullish candle every retailer or price action trader who don't respect volume will now start thinking bull run has started, and start buying at any price they are getting. But look at volume its a above average volume but lover than previous volume. In the same week of 30th March 2020 we all started to see or hear from every source that Pharma Stock are going to boom on bias of COVID19, India will be supplying medicines to U.S and other major countries. And retailers started getting in and start buying.
Prices were getting higher till the week of 13th April 2020. Volume is still higher (Slightly Lower Than Previous Candle Volume) enough but range of the candle is now get narrow than all previous candles we observe till now. There also a good wick to this candle which clearly start indicating someone is start capping the prices or supply getting over the demand. Clearly at this point stock is weak.
Now let we see what happens in next two candles.
Candle of 20th April 2020 week one can immediately say its a bullish candle as it's closes higher with the highest volume we have seen and also a tail which indicate strong bullish sentiments. But can anyone think why the range is gets narrowed than previous bullish candles. Again clear indication of supply is happening in background. And we are now also in a territory of consolidation happened previously.
Now lets see what happened in last week (27th April 2020). Candle with tail gap up open at 899.95 make high of 906 find strong resistance at 901.75 made low of 811.55 closes near the low 835.30 volume above average not abnormal clear indication Bear Taken Over The Bull Move.
Note: 817.3 Is Support Level So We Can See Some Consolidation Between 817-901 Before Downtrend Started In Lupin.
LUPINLupin is in critical condition as per actual chart pattern. Because it shown in F&O short buildup and daily chart also showing negative. Last four hour price shows some positive movement. So if price for Monday first 15 minutes close below the support line then we can see around 5 % lower level from here .
Lupin: Hold long as price is sitting above 100-week average100-week average support is located at Rs. 790. Stock found selling pressure around 840 earlier this month and that has put brakes on the rally. However, this pause will likely recharge engines for the next move higher as the weekly RSI is also reporting a breakout...
Lupin flirting with long-held hurdle, eyes four figuresLupin surged 20 percent last week.
Price rise was backed by highest trading volume since August 2018.
The high volume rally looks to have legs
Prices are flaring with the long-held the 100-week moving average at Rs.790. Acceptance higher looks likely and could be followed by a rise above Rs. 1,000.
Buy at CMP or dips for target of 1,000 with tight stop loss.
LUPIN OVERBOUGHT ZONE???Lupin recent low 500 to now 1 way up to 798 level.
near 818 seen some resistance if not sustain abv or cls then profit booking start.
its my view.
before taken any position plz ask your financial advisor help.
Only Positional or short term traders.Buy LUPIN ltd if closing price is above 741-42.
Short LUPIN ltd if closing price is below 722.
LUPIN DAILY CHARTAS PER DAILY CHART HISTORICAL SUPPORT ZONE (HORIZONTAL LINE), AROUND 635......LET SEE ITS BREAK OR MAKE
LUPIN 735 || SHORT || INTRADAY SELL below 735 SL 736.5
Targets 732, 730, 728, 725, 720
OR
LUPIN 29AUG 730 PE (₹13.50)
Double bottom in LUPINDouble bottom formed in LUPIN as formed in Nifty Pharma sector, and RSI has to enter into the bull zone which is above 60 to continue the uptrend.
LUPIN - A QUICK SWING TRADE POTENTIAL ON A COUNTER-TRENDLUPIN
cmp 735
Long above 750 suggested.
Stop 715.
Target 800 plus.
Logic:
1) Stock trading at support zone.
2) Bullish divergence in MACD observed.
3) Support zone + Bullish divergence has had a strong counter trend rally in the past.
Lupin - Long Term View - 5/10/2018Lupin LTD is still stuck in well entrenched downtrend. The moment it tries to gather itself up, some bad news hits the stock. Latest development is that USA is moving towards some kind of price manipulation of drugs. This news has hit majority of Indian pharmaceutical company stocks and they all are moving in the same downward direction.
But well, we all know how the collusion between politics and industry works. Especially pharma industry is difficult to take on. Eventually there will be some ways to boost the profitability again. My view is to take advantage of any such development and buy pharma stocks. Next interesting range to trade Lupin will be around 600.
Lupin Buyone can buy lupin above 755 keeping stop loss of 737 , target can be787... just my view , do it on your own risk.....
