NSE Ticker: LUPIN
SECTOR: PHARMACEUTICALS
MARKET CAP (RS CR): 76,292.38
Analysis Date: 02 August 2015
LTP: 1696.70
52 WK LOW/HIGH: 1107.30/2115
Fundamental Strength: Strong
Stock Trading Strategy: Buy on Dips
Technical View:
RSI: The RSI is 33.16 and it’s in uptrend after oversold condition. It’s giving a Strong Buy Signal.
Slow Stochastic: The Slow Stochastic is 16.39 and signal line also crossover.It’s in uptrend after oversold condition. It’s giving a Strong Buy Signal.
MACD: MACD still did not show crossover but MACD Histogram is clearly in uptrend. It’s giving a Strong Buy Signal.
CCI: The CCI is -92.60 and its in uptrend after oversold condition. It’s giving a Strong Buy Signal.
ADX: The ADX is in uptrend after oversold condition. It’s giving a Buy Signal.
Bollinger Band: After a big downfall now price is going away from lower band of bollinger band, this is indicating that the downtrend is over now and uptrend start. Bollinger band width is also indicating same. It’s giving a Strong Buy Signal.
Moving Avg.: The Price took support at important 200 Days simple moving avg. and bounce back from that level and still maintaining above it. It’s giving a Strong Buy Signal.
Support/Resistance: The key support level is 1590-1600. Which is previous low also. The support line is drawn on chart(green line). Price took support at support level and bounce back from that level and still marinating above it. It’s giving a Strong Buy Signal.
Candlestick: A Bullish Engulfing is created on daily chart which is the indication of uptrend. It’s giving a Strong Buy Signal.
Chart: The Daily and weekly chart is clearly in uptrend that is indicating strength of stock, so it should be buy on every dips. Its forming “Double Bottom” at daily and weekly chart. It’s giving a Strong Buy Signal.
Conclusion:
Lupin is the leading Pharmaceuticals company. The current market capitalisation stands at Rs 76,292.38 crore. It is fundamentally strong so trading strategy for it to buy on every dips. The chart pattern and indicators showing a strong buy for it. So traders can buy it with the SL of 1585 and investors can accumulate it at current levels.
