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Lupin Price Action – Trading around Structural Resistance zone

Lupin Shares price action trading near Resistance zone

An Outlook on Lupin Share Prices and Market Structure

In the beginning of 2018, Lupin Share prices tumbled from 950 to 750, that’s almost -22% declines in stock value. Later Bearish momentum declined, Price action unfolded into a sideways or Range bound market. Overall Market structure changed from down trend to Range in the month of March. For almost two months now, Share prices are trading within that Range. Market made earlier attempt to breakout from the range, but that resulted in Failure. Now again, Price action is making another attempt to breakout from the Range! Share prices are trading closely around the Structural Resistance zone at 830 – 840.

The strength of Price action lies precisely in pinpointing the Market psychology of Share prices. So when Market psychology changes, Price action will also change to reflect the market conditions. The same scenario is taking place in Lupin. From the beginning of June; we can see strong bullish candles which are quite larger than previous candlesticks within the range. It’s a sign of buying pressure increasing in the stock. Prices are trading closely around the structural resistance zone with strong momentum, we can expect two possibilities in this case – Either the Prices will breakout upside from the range OR this will turn into another failed breakout attempt. In both cases also we can get good trading opportunities. So keep an eye on this stock in coming days.

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About the Author:

Balaji is a Speculator, Investor and Trader (All in All!!!) and self published author. Trading in the Markets since decade, have seen more ups and downs along with institutional trader's lifestyle. He usually trades Nifty, Bank Nifty, Commodities, Futures cum Options around both Indian and global Markets. Balaji applies highly analytical and systematic Price Action strategies He blogs passionately about Trading strategies, Price Action Trading, Technical analysis, Macro events, Market setups, Financial and Economical topics. Apart from Trading and Blogging, Balaji also mentors aspiring Traders and Investors on becoming successful in highly competitive financial Markets.

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