Go long in Lupin, says Jai Bala

Bala told CNBC-TV18, "Lupin is breaking out in its fifth wave and the move from the lows that was seen from this year’s low is projecting a target of about Rs 670. But there is minor resistance closer to Rs 630. You can go long at current levels, take partial profits closer to Rs 630 and aim Rs 670 but place a closing stop loss of about Rs 535-540."

The share touched its 52-week high Rs 593.85 and 52-week low Rs 409.50 on 25 Jul, 2012 and 14 Dec, 2011, respectively.
 
Currently, it is trading -3.67% below its 52-week high and 39.69% above its 52-week low.
 
Market capitalisation stands at Rs 25,565.76 crore.