Trade rationale

Other – Study mentioned in Notes Below

Cup and Handle Formation in new uptrend. Lupin has shown promising new uptrend from March,2020 lows and currently is forming a 25+ weeks long cup and handle formation. The last 7 daily candles (04/03/21 to 15/03/2020) have been trading closely and have formed a double top. This provides a low risk entry before the breakout of the handle. Given entry, exit and stop loss prices reflect a risk to reward ratio of 1:2.8