Lupin: Will the fundamental heat in pharma continue?
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Pharma sector constituents are under good traction, whether they are directly racing to find the cure for COVID-19 or just acting as an ancillary medium to main players.
Technically, Lupin in particular, after getting out of a constricted regression channel, is in a bull drive with a healthy flag and now halted at a pennant. Here, Volumes are imbalanced both in positive and negative ends. Hence, an gaining a balance towards one end is likely to either continue the trend or reverse the momentum.
Point to note here is that the zone between the extended continuation resistance and the demand zone plotted should be considered a no-trade area as it is acting as the current mean and momentum can only be triggered beyond this value area.
Technically, Lupin in particular, after getting out of a constricted regression channel, is in a bull drive with a healthy flag and now halted at a pennant. Here, Volumes are imbalanced both in positive and negative ends. Hence, an gaining a balance towards one end is likely to either continue the trend or reverse the momentum.
Point to note here is that the zone between the extended continuation resistance and the demand zone plotted should be considered a no-trade area as it is acting as the current mean and momentum can only be triggered beyond this value area.
Dagangan ditutup: sasaran tercapai
The upper circuit has been hit after a great unidirectional play.
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