LUPIN trade ideas
Lupin Limited - Latched In The Middle - 9/19/2016Technically speaking, Lupin Limited stock price is right in the middle of strong support and resistance areas. Given the possibility general equity shake up during the Fed meeting, it is unlikely that it can cross 1700 easily on the upside. Besides there is always a possibility of some black swan event to punish the pharma stock lurching around the corner which can throw it down again to test the support area near 1400 / 1300.
So what's the trade? Well, wait for the lows towards 1300 for a buy if everything else remains same. Here everything else means the general mood and conditions for equity markets to either flourish or survive !
Should there be any scenario where it can plummet down into the abyss testing the next major support near 1000? ;) You never know ! And someone who has the plan to reap the rewards of a equity plunge that far will certainly reap the millions in near future, wouldn't he? :)
Long term bullish on LupinLupin seems to be in a leading diagonal after a big flat correction with C=1.618*A. Hence it could continue to newer highs. Any move below the wave C low would negate the count.
Possible Lupin countLupin seems to have broken out of it's consolidation after tracing an Elongated Flat correction. In the long term, it seems to be a good long.
LONG LUPINLonger time frame. Decent risk reward ratio of 3x. LUPIN seems to be settling above 200DMA and the next resistance is at 1878. It should reach there in a month or so.
Lupin - Trading Bull Flag Pattern (Buy)As per the observations, it has made a breakout from downward trending line on daily charts and also building a bull flag pattern. I would be expecting a breakout from current levels to reach target of 1850 levels.
Target 1: 1760 Target 2: 1800 Target 3: 1850
Stoploss: 1720
LUPIN GO LONG LUPIN VIEW FOR SHORT TIME CMP 1670 STOP 1620...TARGET 1875..
RISK -3.65%..REWARD...+11%
THANKS
Lupin - Buy set upLupin after a high 2129 has corrected in a zig zag ABC pattern upto the low of 1280...There was impulive upmove after the low to the high of 1689 which has been retraced by more than 61.8%. NOw a new upmove has started....Buy on dips..
LUPIN - BREAKOUT OF CHANNEL (INTRADAY SELL)Observed a breakout from a trend channel in 30 mins chart.
LUPIN - EODPrice is trending down on daily TF.
If 1400-1410 holds and price reverses from there, a long opportunity may emerge. For now, no action.
