Lupin can touch Rs 1650-1750: Bhambwani

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Lupin can touch Rs 1650-1750: Bhambwani

Technical Analyst, Vijay Bhambwani is of the view that Lupin can touch Rs 1650-1750 in next two-three quarter.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » RELATED NEWS Buy Lupin, target Rs 1800: Karvy Lupin derives 88% rev from formulation biz Lupin Q3 cons net profit up at Rs 160 cr ALSO READ See previous views by Vijay Bhambwani See what other Experts & Brokerages are saying about Lupin See messages about Lupin Lupin BSE | NSE 10/02/12 Are Mutual Funds betting on Lupin?

Technical Analyst, Vijay Bhambwani is of the view that Lupin can touch Rs 1650-1750 in next two-three quarter

Bhambwani told CNBC-TV18, "Lupin outperforming the markets in the last couple of weeks and the chart pattern is showing relative strength. Although if the markets were going to tank, I don't think this momentum that you have seen in the last couple of weeks will sustain. But a stock that is very close to its all time highs or at its all time highs when the markets are going down, needs to be respected as a momentum stock or at least even a medium-term to long-term bet if this momentum persists. I wouldn't be surprised - when the markets turnaround and start rallying - Lupin in the next two-three quarters was to make a high at Rs 1,650 maybe Rs 1,750 also."