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Last Updated : Oct 22, 2018 10:54 AM IST | Source: Moneycontrol.com

Lupin may test Rs 970, says Shabbir Kayyumi

As long as Lupin sustains above Rs 830, the possibility of moving on the upside is higher and it can hit our target of Rs 970 with an ease.

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Shabbir Kayyumi

Narnolia Financial Advisors

After hitting the peak of Rs 711, Lupin slipped lower levels at Rs 574 then it turns back after forming congestion zone on the lower time frame of charts. As of now, it is retesting its falling trend line on weekly chart which is showing stability in the stock.

Declining histogram in MACD along with positive crossover below the central line is creating optimism in coming sessions. Key support level is located near Rs 842 where 200 DMA is seen. As long as it sustains above Rs 830, the possibility of moving on the upside is higher and it can hit our target of Rs 970 with an ease.

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First Published on Oct 22, 2018 10:54 am
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