Lupin (cmp: 769.3) - is displaying a positive
outlook on the daily chart. The stock has tested the multiple trend line support level &
bounced back with bullish engulfing candlestick pattern on the daily chart and
on the daily chart; the RSI indicator shows multiple leg of positive divergence
with its price, which is the sign of strength. On the hourly chart, the stock
is trading above 20 & 40 hourly SMA. If that resistance level of 775 breaks,
then the stocks will rise towards 811 - 835 levels. The strong support level
placed at 741.
Recommendation: Traders can buy at CMP to 765 levels with a stop loss of 741 (Closing
basis) for target of 811 - 835 levels.
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