Wednesday, 5 July 2017

Short term trade setup in Lupin


Have a look at Lupin daily chart above.  It has been in a strong down trend for a long time, but the volume and price action of last few days indicate it is refusing to go further down. Today a very strong bullish candle has formed with significantly high volume which further indicates big buying in the counter at lower levels.  So now it seems like the time has come for the Lupin to give at least a sizable bounce from here. It can be bought at around CMP of 1084 with SL at today's low of 1036 and target close to 1180-1200 in a couple of weeks.  It is a good 1:2 RR trade setup.  Let's see how it pans out.
(This is for educational purpose only.  It is not a trading idea or any kind of advice.)

3 comments:

  1. sir lupin trade going well

    ReplyDelete
  2. lupin made high 1154 great sir

    ReplyDelete
    Replies
    1. Anoop

      Thanks. It seems you took that trade. Great...

      Today Lupin spot made the high of 1166.75 and future 1164. Target almost achieved. Enjoy.

      URD

      Delete