LUPIN long idea based on support with the bullishness in pharma industry due to fda approvals(40% of us market) and lupin has bottomed out with a trend reversal,which is visible in our charts.
a conversative setup for a short term
enter at around 990 with CBSL of 920 and target of 1045
newslink given below
www.financialexpress.com
LUPIN trade ideas
Lupin is a Good Buy at current levels!Lupin is one of the top Pharma companies with an excellent Balance Sheet, Sales Revenue growth and a very good future.
From long term investment point of view, this is an excellent company to have in your portfolio and current levels of 1250 are an excellent entry.
One can add more if it dips further as this stock itself promises to give 20% + returns within or much before an year..
Technically.. Weekly charts shows Fibonacci retracements to 50% and good chances of a bounce from here very soon...
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? :)