LUPIN-Double bottom – EQSIS PRO

Senthilvel Balraj, June 12, 2018, LUPIN

witnessed double bottom with high volume on breakout on july-12-2018

2 Comments

Palanivel 6 years ago

Recently i posted a analysis for Lupin .There I saw a Bearish Flag pattern. A short position need to be taken below 808. target equal to the pole height 576 . (808-232). Instead price moving down , price moved up and hit the stop loss. Now Again Double bottom is formed. A long position can be taken above 242 and target of 952.

Question1 : Can we take long position now ? How to deal this situation.
Question 2 : Do see still downside up to 576 ??????

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  Senthilvel Balraj 6 years ago
  
  Hi Sir, for the flag pattern the min to max duration is 4 to 7 days, kindly do not consider above these days. We can take long position in lupin now [I added some stocks in my portfolio today at 864]. As per my view I don not think it will fall till 576, because we have support at 730. Also in double bottom buy the stock if it opens or breaks the high of the breakout price[break of double bottom’s resistance or refer my snap].
  
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