Lupin Limited (LUPIN) Stock - Complete Technical Analysis - Sep 17, 2024

Lupin Limited Technical Analysis: Key Support & Resistance Levels Stock Market Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Lupin Limited (LUPIN) is currently trading at 2,270, just 1.80% below its 52-week high and a substantial 108.01% above its 52-week low. The technical analysis of LUPIN reveals a strong bullish trend. The RSI indicates that the stock is approaching overbought conditions, suggesting that caution might be warranted. The ADX confirms a strong trend, signaling that the current upward movement could persist. The MACD is showing positive momentum, reinforcing the bullish outlook.

However, the Stochastic Oscillator and Stochastic RSI are signaling potential overbought conditions, which could lead to a short-term pullback. The Commodity Channel Index (CCI) is also in a bullish range, indicating that the stock is trading above its average price. The Awesome Oscillator supports the current bullish trend, while the Williams Percent Range suggests that the stock might be near the upper end of its trading range.

Support levels for LUPIN are near 2,200, while resistance is close to the 2,300 mark. If the stock breaks above the resistance level, it could continue its upward trajectory towards new highs. Conversely, a move below the support level might signal a potential pullback or consolidation. The stock's moving averages are showing a strong upward trend, with short-term averages above longer-term ones, reinforcing the bullish sentiment.