Lupin Limited Stock Forecast
Lupin Limited stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Lupin Limited stock price fell by -0.0316% on the last day (Wednesday, 24th Apr 2024) from ₹1,580.55 to ₹1,580.05. During the last trading day the stock fluctuated 2.79% from a day low at ₹1,559.05 to a day high of ₹1,602.50. The price has fallen in 6 of the last 10 days and is down by -1.13% for this period. Volume has increased on the last day by 28 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 44 thousand shares were bought and sold for approximately ₹68.91 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹1,550.21 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.64% during the next 3 months and, with a 90% probability hold a price between ₹1,606.56 and ₹1,772.44 at the end of this 3-month period.
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LUPIN.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.13%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lupin Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹1,589.38 and ₹1,615.40. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Lupin Limited stock
Lupin Limited finds support from accumulated volume at ₹1,573.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹43.45 between high and low, or 2.79%. For the last week the stock has had daily average volatility of 2.67%.
Our recommended stop-loss: ₹1,509.66 (-4.45%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (LUPIN.BO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Lupin Limited to open at ₹1,580.53, and during the day (based on 14 day Average True Range), to move between ₹1,537.91 and ₹1,622.19, which gives a possible trading interval of +/-₹42.14 (+/-2.67%) up or down from last closing price. If Lupin Limited takes out the full calculated possible swing range there will be an estimated 5.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,573.05 (0.44%) than the resistance at ₹1,606.10 (1.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lupin Limited stock A Buy?
Lupin Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.121 Hold/Accumulate Upgraded
Predicted Opening Price for Lupin Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ₹1,580.53 ( 0.0306%) | ₹1,580.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LUPIN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,623.98 | 2.78 % | |
| R2 | 1,607.39 | 1.73 % | ||
| R1 | 1,597.13 | 1.08 % | ||
| Current price: | 1,580.05 | |||
| Support | S1 | 1,563.94 | -1.02 % | |
| S2 | 1,553.68 | -1.67 % | ||
| S3 | 1,537.08 | -2.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,669.05 | 5.63 % | |
| R2 | 1,623.30 | 2.74 % | ||
| R1 | 1,606.10 | 1.65 % | ||
| Current price | 1,580.05 | |||
| Support | S1 | 1,573.05 | -0.443% | |
| S2 | 1,547.05 | -2.09% | ||
| S3 | 1,453.95 | -7.98% |
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