Let’s discuss the technical outlook of a well known Pharmaceutical company, Lupin Ltd. it is in continuation to our studies for Pharma Index.
Enclosed is a Daily Chart of the company Lupin Ltd. We can clearly see a Double Bottom Formation near 918-920 levels. The double bottom is supported by rising positive divergence in RSI indicator which indicates a positive move ahead. The prices can move upto the falling trendline before experiencing resistances near 1020- 1040 levels in coming one to two weeks. The further move will depend on the then situation in the chart and if it succeeds to cross the line with volume then the next target would be 1200 in a short time span.
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purposes only. It is very important to do your own analysis/study before making any investment decision based on your own personal circumstances. We are in no way related to the companies mentioned and discussed in any of our articles and we are not paid by any of these companies in any way.
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Thanks sir for such deep analysis..your hard work and deep reachers is very helpful to us..
Absolutely agreed, Nice company, great fundamentals, Bullish Technicals. Short Term should cross 900, Long Run 2k in 2 years. This is only educational purposes, trade at your own risk!