Lupin: bearish divergence

| January 13, 2014 | India
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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.

Momentum is waning, making consolidation and even a trend reversal rather likely. Partially closing longs is recommended. For the remainder of the position trailing stops below (maximum) 828 should be maintained.

  • Primary trend: positive (late stage)
  • Outlook: possible reversal, tighten stops/exit-long
  • Support: 828 / 730.20 / 626.65-
  • Resistance: 950

Weekly chart Lupin



Category: India