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 trade ideas
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.
Earn from Financal market more than inflation and bank rates1. Understand risk management and protect the capital.
2. Fix the maximum loss per trade i.e 1.5 % of invested in trade.
3. Target is 14% (pre taxe) PA i.e FD interest @ 7% + 7% reward for risk taken.
4. Restrict trade with only large cap stock having value more than Rs. 200 to Rs. 1000
5. Appreciate the wealth.
Lupin: Will the fundamental heat in pharma continue? Pharma sector constituents are under good traction, whether they are directly racing to find the cure for COVID-19 or just acting as an ancillary medium to main players.
Technically, Lupin in particular, after getting out of a constricted regression channel, is in a bull drive with a healthy flag and now halted at a pennant. Here, Volumes are imbalanced both in positive and negative ends. Hence, an gaining a balance towards one end is likely to either continue the trend or reverse the momentum.
Point to note here is that the zone between the extended continuation resistance and the demand zone plotted should be considered a no-trade area as it is acting as the current mean and momentum can only be triggered beyond this value area.
LUPIN KISSED MY PRZDISCLAIMER :
As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level.
Not every idea is a valid trade.
This analysis is a trading idea, not a trading signal for you.
My own trend direction estimation, entry point, stop loss and take profit levels are on the chart.
Good Lucks.