LUPIN HAS BEEN AN OUTPERFORMER IN THE PAST FEW WEEKS. IT HAS GAINED BY 68% FROM IT'S LOWS, WHICH IS DOUBLE THE GAIN THAN THE NIFTY50 INDEX. MY ANALYSIS IS BASED ON WEEKLY TIME FRAME OF THE CHART. TECHNICALLY, THIS STOCK CAN PERFORM WELL EVEN AFTER POSTING AND PERFORMING SO WELL AND OUTPERFORMING CONTINUOUSLY. THE TECHNICAL INDICATORS ARE :
1. IT HAS A VERY STRONG SUPPORT LEVEL AROUND 800. IN THE PAST ALSO, THE STOCK HAS BOUNCED FROM THESE LEVELS AND MANAGED TO TRADE ABOVE 800 ON A WEEKLY BASIS. IT HAS A TEMPORARY SUPPORT NEAR 825-830 LEVELS. 800-830 IS A STRONG SUPPORT ZONE.
2. RSI - RSI HAS CROSSED 60, WHICH INDICATES THAT THE STOCK HAS PICKED UP MOMENTUM AGAIN. RSI INDICATES THE STRENGTH OF THE STOCK.
3.FIBBONACCI EXTENTION - LUPIN IS TRADING AT 23% RETRACEMENT AS OF NOW AND 38% WHICH IS AN IMPORTANT LEVEL IS PLACED AROUND 800.
4. BOLLINGER BANDS - BOLLINGER BANDS HAVE BEEN SQUEEZING, WHICH MEANS THAT THE VOLATILITY IS REDUCING AND MAKES IT A SAFE STOCK TO INVEST IN. BB INDICATES THE VOLATILITY, IF THE BANDS SQUEEZE IT MEANS THAT IT WILL TRADE SIDEWAYS BEFORE MAKING A SHARP MOVE.
5. MOVING AVERAGE - ON THE WEEKLY TIME FRAME, LUPIN TOOK SUPPORT AT THE 7 DAY MOVING AVERAGE AND BOUNCED FROM THERE. RIGHT NOW IT IS TRADING ABOVE 7, 20 AND 50 DAY MOVING AVERAGE INDICATING IT HAS STRENGTH IN IT'S MOVE.
LUPIN HAS OUTPERMED SINCE THE PAST SEVERAL WEEKS, AND IS STILL DOING SO. NIFTY MANAGED TO CLOSE IN RED BUT LUPIN MANAGED TO GAIN BY ALMOST 2% WHICH SHOWS IT'S A GOOD INVESTMENT. PHARMA SECTOR IS GOING TO BE IMPORTANT FOR THE NEXT 12-18 MONTHS AT LEAST, AND LUPIN IS A GREAT COMPANY TO INVEST IN .
TRADE WITH CAUTION AND FOLLOW STRICT STOPLOSS.
*THESE ARE MY VIEWS AND I AM NOT REGISTERED WITH SEBI*
1. IT HAS A VERY STRONG SUPPORT LEVEL AROUND 800. IN THE PAST ALSO, THE STOCK HAS BOUNCED FROM THESE LEVELS AND MANAGED TO TRADE ABOVE 800 ON A WEEKLY BASIS. IT HAS A TEMPORARY SUPPORT NEAR 825-830 LEVELS. 800-830 IS A STRONG SUPPORT ZONE.
2. RSI - RSI HAS CROSSED 60, WHICH INDICATES THAT THE STOCK HAS PICKED UP MOMENTUM AGAIN. RSI INDICATES THE STRENGTH OF THE STOCK.
3.FIBBONACCI EXTENTION - LUPIN IS TRADING AT 23% RETRACEMENT AS OF NOW AND 38% WHICH IS AN IMPORTANT LEVEL IS PLACED AROUND 800.
4. BOLLINGER BANDS - BOLLINGER BANDS HAVE BEEN SQUEEZING, WHICH MEANS THAT THE VOLATILITY IS REDUCING AND MAKES IT A SAFE STOCK TO INVEST IN. BB INDICATES THE VOLATILITY, IF THE BANDS SQUEEZE IT MEANS THAT IT WILL TRADE SIDEWAYS BEFORE MAKING A SHARP MOVE.
5. MOVING AVERAGE - ON THE WEEKLY TIME FRAME, LUPIN TOOK SUPPORT AT THE 7 DAY MOVING AVERAGE AND BOUNCED FROM THERE. RIGHT NOW IT IS TRADING ABOVE 7, 20 AND 50 DAY MOVING AVERAGE INDICATING IT HAS STRENGTH IN IT'S MOVE.
LUPIN HAS OUTPERMED SINCE THE PAST SEVERAL WEEKS, AND IS STILL DOING SO. NIFTY MANAGED TO CLOSE IN RED BUT LUPIN MANAGED TO GAIN BY ALMOST 2% WHICH SHOWS IT'S A GOOD INVESTMENT. PHARMA SECTOR IS GOING TO BE IMPORTANT FOR THE NEXT 12-18 MONTHS AT LEAST, AND LUPIN IS A GREAT COMPANY TO INVEST IN .
TRADE WITH CAUTION AND FOLLOW STRICT STOPLOSS.
*THESE ARE MY VIEWS AND I AM NOT REGISTERED WITH SEBI*