Lupin Limited (LUPIN) Stock - Complete Technical Analysis - Oct 23, 2024

Lupin Limited Stock Analysis: Key Support, Resistance & Indicators Explained

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 around 2075, representing a 10.27% decrease from its 52-week high of 2312 and an impressive 84.73% increase from its low of 1123. Recent price movements indicate a bearish trend, highlighted by the stock opening at 2120.40 and closing at 2074.55 on October 23rd. The MACD shows a negative crossover, pointing towards a continuation of this downward trend. Additionally, the RSI reading of 37.59 places the stock in oversold territory, suggesting potential for a reversal, though selling pressure remains strong, as indicated by momentum and stochastic readings.

The immediate support level is aligned with the classic pivot point at 2213.75, while resistance is positioned near the psychological level of 2200. The volatility of the stock, with an Average True Range (ATR) around 117.06, presents opportunities for traders seeking short-term gains. Its crucial to watch for potential price reversals near the support levels, as a break below these could lead to further declines, while a rally above the resistance levels might signal bullish momentum. Overall, LUPIN offers traders a mixed outlook, requiring close observation for strategic entry and exit points.