LUPIN trade ideas
Lupin : Stuck in a triangleLupin is stuck up in a triangle ( as marked in the chart).
It has hit the long term trendline resistance, where D wave seems to be completed.
Other reasons -
Daily chart RSI showing negative divergence.
Candlestick pattern has created a Dark Cloud.
A close below 990 will take Lupin below 900 in days to come.
Lupin ready to bounce from weekly supports of 830-840 . Go long Lupin Will take supports at 20EMA on weekly charts. Sector is positive and Lupin is at supports. 830-840 is best entry for longs with just 20 points sl and targets of 880,900+ in coming days. Note the previous fall on back of low volumes