10/08/2024
To analyze the stock of **Lupin Ltd (LUPIN LTD)** and provide entry, target, and stop-loss levels, let's break down the chart based on the provided image:
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# # # **Analysis:**
1. **Trend:**
- The monthly chart shows a strong uptrend, with the price breaking above the 1.0 Fibonacci level (₹2,092.65). This suggests bullish momentum.
2. **Key Resistance:**
- The next significant resistance is at the 1.618 Fibonacci level, **₹3,039.60**.
3. **Support Levels:**
- Immediate support is at the 1.0 Fibonacci level **₹2,092.65**.
- The next support is at 0.618 Fibonacci level **₹1,507.35**.
# # # **Entry, Target, and Stop Loss:**
- **Entry Point:**
- **₹2,092.65 - ₹2,113.55**: Given that the price is currently in this range, entering around these levels is ideal, provided the uptrend continues.
- **Target:**
- **Target 1:** ₹2,500 (Mid-level target for booking partial profits)
- **Target 2:** ₹3,039.60 (Ultimate target based on Fibonacci 1.618)
- **Stop Loss:**
- **₹1,750**: Below the ₹1,792.20 level, as this area could serve as a significant support if the price corrects.
# # # **Risk Management:**
- Always ensure to allocate a small portion of your portfolio to this trade.
- Use a trailing stop-loss if the stock continues to rally beyond the target levels.
This analysis assumes the current trend continues and is based on technical analysis using Fibonacci retracement levels. Please consider market conditions and other fundamental factors before making a trading decision.
**Disclaimer:** The information provided is for educational purposes only and should not be considered financial advice. Trading and investing in the stock market involve risks, and you may lose more than your initial investment. Always do your own research or consult with a licensed financial advisor before making any decisions. The analysis shared is based on technical indicators and may not predict future performance. I am not responsible for any losses incurred from
