Buy Lupin at Rs 1,952
Stop Loss: Rs 1,870
Lupin has shown a decisive turnaround by breaking above the falling trendline drawn from its January 2025 highs, ending months of sustained downtrend. This breakout, confirmed by robust trading volumes, signals renewed buying interest and a shift in market sentiment. On the technical front, Lupin’s price has not only crossed the 20-day EMA but is now approaching the crucial 100-day EMA zone at Rs 1,950–1,960—a region where a strong close could further validate the bullish reversal.
Supporting this positive structure, the formation of higher lows illustrates that selling pressure is easing, pointing toward an ongoing base-building phase. The Relative Strength Index (RSI) has also reversed higher, currently standing at 51.88, reflecting strengthening momentum in favor of buyers.
Going forward, immediate support is at Rs 1,900, with a more robust stop-loss level around Rs 1,870, near recent swing lows. If Lupin manages a sustained close above Rs 1,960, the upward momentum may accelerate, opening the path for additional gains. However, any dip below Rs 1,900 could trigger a retest of lower supports, making risk management crucial in the current scenario.
(Mandar Bhojane, Equity Research Analyst, Choice Equity Broking)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
