Wednesday, 8 May 2013

Chart Update: Lupin

Lupin Chart:

Weekly Chart:

Daily Chart:

As per the price channel Lupin has touched the upper blue channel line and made high of 738.8 which is also 261.8% retrace as shown in weekly chart. 

As per price channel room for up move is limited till the time price close above blue price channel. Once closed above 261.8% retrace next target is 260.
Daily ,weekly & monthly charts are highly overbought , with huge divergence in RSI. Long term investors should keep strict sl or do partial booking at this level. 

Watch out this counter, once closed below 5dhema will attract bears attention. Risk takers can attempt shorts with 740 (1%) as sl since risk reward ratio favours going short in this counter. 

So plan your trade accordingly.

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Happy Trading. 

All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.

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