Buy Lupine on RS 1,952
Stop loss: RS 1,870
Lupin has shown a decisive turnaround by breaking over the falling trendline from the highlights of January 2025, and ended months of persistent downward trend. This outbreak, confirmed by robust trade volumes, indicates a renewed purchase interest and a shift in market sentiment. On the technical level, the price of Lupin has not only exceeded the 20-day EMA, but is now approaching the crucial 100-day EMA zone on RS 1,950–1,960-a region where a strong closure could continue to validate the bullish reversal.
To support this positive structure, illustrates the formation of higher lows that the sales pressure is relaxed, pointing to a continuous phase of the basic structure. The relative strength index (RSI) is also higher reversed, which is currently at 51.88, which reflects the reinforcement of the momentum in favor of buyers.
In the future, immediate support on RS is 1,900, with a Robuuster Stop-Loss level around RS 1,870, near recent Swing-Deeptoints. If Lupine manages a persistent close to RS 1.960, the upward momentum can accelerate, so that the path is opened for extra profit. However, every DIP under RS 1,900 can cause a red test of lower support, making risk management crucial in the current scenario.
(Mandar Bhojane, Equity Research Analyst, Choice Equity Broking)
(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)
#Market #Trading #Guide #MCX #Paytm #stock #recommendations #Monday #share #ideas