Lupin Limited (LUPIN) Stock - Complete Technical Analysis - Nov 08, 2024

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

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) stock has shown some volatility recently, currently trading around 2,104.60, which is near key support levels. A notable observation is the 52-week high of 2,312, indicating the stock is still trading at a relatively high level compared to its low of 1,153.55. Over the last five trading days, there were noticeable price fluctuations, with significant support forming around the 2,090 mark.

Short-term price trends are currently weak, with recent closes below both the short-term and long-term moving averages. The stock is below the 10-day and 20-day exponential moving averages, signaling a bearish trend. RSI levels are below neutral, suggesting potential for an oversold rebound, but the MACD is negative, indicating that momentum remains weak.

The Average Directional Index (ADX) value of 22.1 confirms the lack of a strong trend, signaling indecisiveness in market direction. Price action is also showing weak bullish strength, despite a few buying attempts. For traders looking for entry points, keeping an eye on the support at 2,090 and a possible bounce from there could be crucial. If the stock fails to hold this level, a deeper correction could take it towards the 2,060 range.

The next few days are crucial for understanding whether the stock will find support or if bearish momentum will continue. Traders should consider volume patterns and momentum indicators to assess the potential for price reversals.