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LUPIN Technical Analysis suggests that recent up move in the Lupin share price is because of speculative positions. One of the most common queries on stock talk technical analysis videos is that whether this stock fits into contrarian investing. Based on current technical analysis, the Lupin does not fit for value investing or contrarian investing.
The price action strategy suggests that the stock may face resistance at the current level as this level act as resistance based on long term support and resistance & the trendline. The next resistance will be at around Rs 875.
On Fibonacci Retracement, the resistance will be at 61.8% i.e. at Rs 877. Therefore, the level of around Rs 875 will be confirmed resistance as suggested by the multiple trading setup or system.
The LUPIN Technical Analysis suggests that this stock follow 100 day exponential moving average and it is trading just above this level. The crossover of 20 day EMA and 100 day EMA will provide a buying opportunity for the positional trade.
The recent up move can also be attributed to the bullish divergence and Lupin follows the divergence trading setup or system.
The volume, traded value, and delivery % suggest that speculative positions are built in the Lupin. Also, the correlation between the index and Lupin share movement is very weak.
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