|Sell Range||796 – 786|
|Target||755 – 740|
|Duration||12 – 15 Trading Sessions|
|Potential Return^||4 – 6%|
|CP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|786.05||SELL||796 – 786||755 – 740||812||12 – 15 Trading Sessions||4 – 6%|
# CP – closing price on Dec 03, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 771.
^ The returns are calculated based on CP#
Verify Lupin Technical Analysis #100
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Lupin Limited, a pharmaceutical company develops, produces and sells a range of generic formulations, biotechnology products and active pharma ingredients worldwide. The company offers formulations for diabetology, paediatrics, anti-infectives, cardiovascular, asthma and anti-tuberculosis. It also develops various therapies for rheumatoid arthritis, oncology, ophthalmology and osteoporosis. Lupin limited reported a massive loss of 124.40 crores for the September 2019 quarter, against a profit of Rs 268.10 crore in the year-ago period.
|Sectoral Index||Nifty Pharma|
TECHNICAL OBSERVATIONS (WEEKLY)
- Attached weekly timeframe chart of Lupin Limited is signalling that the stock price was moving in a downward slopping consolidation pattern which was bounded by strong support and resistance line in the last 15 months.
- The stock price has placed near the Upper bound of a sideways range and based on historical price pattern we are expecting price to fall off from here.
TECHNICAL OBSERVATIONS (DAILY)
- The daily chart of Lupin limited indicates that after a 16 days price rally, the stock has given a downside breakout of the trend line indicates negative sign.
- The breakout of an RSI(14) trendline might indicate a potential price reversal. Bear in mind that the break of an RSI trendline usually providing an advance warning, as well as a very early opportunity to go short.