Lupin Limited (LUPIN) Stock - Complete Technical Analysis - Nov 19, 2024

Lupin Limited Technical Analysis Key Levels & Market Outlook LUPIN Stock Review

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's stock, trading at 2038.20, is showing signs of weakness, currently 11.84% below its 52-week high. Recent price action reveals a spinning top pattern, signaling indecision in the market. The stock is under pressure, with resistance at the 10-day Exponential Moving Average (EMA) of 2077.42 and the 50-day Simple Moving Average (SMA) around 2175.53. The RSI is in the oversold zone, indicating that it might be due for a potential rebound, but the MACD and CCI suggest continued bearish momentum.

Looking at support levels, the stock is currently testing key areas such as the Classic Pivot support at 2064 and the Ichimoku Base Line at 2136. If these levels are broken, the stock could slide further towards the Fibonacci support at 2034.69 or even lower to the 1941.98 level. With a relatively high ATR, traders should brace for heightened volatility. The outlook is slightly bearish, and caution is advised as the stock might face further declines unless there is a clear shift in momentum.