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
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 - Long Trade - Investment - Price ActionPrevious Lupin short term trade stop los hit.
However this chart is for Medium to Long Term perspective.
Good buy zone 973-993
De-risk the trade at 1050 and continue to hold for bigger targets of 1160, 1309 and 1400+
Price is now at second/strong support of 973-993 after breaking previous support of 1010-1020.
Pharma sector had its bad days since last 2years, but now they have cope up the situation and we are seeing a good hold back in prices, making it the best bet again for coming months/years.