Lupin: trend slowing down
Company profile: Lupin Limited manufactures bulk actives and formulations. The principal bulk actives manufactured by it include Rifampicin, Pyrazinamide, Ethambutol (anti-TB), Cephalosporins (anti-infectives) and cardiovasculars. The company also possesses competencies in phytomedicines, in which medicines are made out of plant and herbal resources supported by the discipline of modern medicine.
The long-term uptrend is losing a lot of steam: no new highs have been set and momentum is ebbing away. Investors should prepare for a trend reversal if/once support at 571 is taken out (MA200 & internal trend line). A decline towards 504 and even ~420 cannot be excluded.
- Primary trend: late stage uptrend
- Outlook: potential trend reversal, exit-long
- Support: 571.25 / 504.45 / 420-
- Resistance: 631.95
Weekly chart Lupin (NSE)
Category: India
