Lupin Ltd. - Double Bottom Play!
Looking at the past 15 trading sessions, an opportunity can be observed in Lupin Ltd. to go Long.
The stock has respected it’s crucial support level of 2000 twice and was able to provide enough strength to form a Double Bottom pattern. In today’s trading session, the stock not only managed to break the neckline at 2119, but also crossed it’s 50 day moving average.
The technical view remains bullish with a risk-reward of 1:2 where Stop Loss order can be placed at 2060 and Target order stands at 2250.
The above analysis is for educational purposes only and not a recommendation. Hence, Traders/Investors are advised to do their own research before creating any new positions. Happy Trading!
The stock has respected it’s crucial support level of 2000 twice and was able to provide enough strength to form a Double Bottom pattern. In today’s trading session, the stock not only managed to break the neckline at 2119, but also crossed it’s 50 day moving average.
The technical view remains bullish with a risk-reward of 1:2 where Stop Loss order can be placed at 2060 and Target order stands at 2250.
The above analysis is for educational purposes only and not a recommendation. Hence, Traders/Investors are advised to do their own research before creating any new positions. Happy Trading!
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