Traders can accumulate the stock in the range of Rs 860-868 for the target of Rs 954 and a stop loss below Rs 824, says Achin Goel of Bonanza Portfolio.
Lupin has moved above the previous peak on the daily chart. The rise in price was backed by increased volume which suggests growing optimism.
In addition, the price has moved above the falling trend-line which indicates a reversal of the falling trend. Moreover, a momentum indicator, RSI (14) is in a bullish crossover and rising on the daily chart.
Traders can accumulate the stock in the range of Rs 860-868 for the target of Rs 954 and a stop loss below Rs 824.Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.