Today’s pick is LUPIN. [stockquote]LUPIN[/stockquote]. The stock has been in an uptrend through-out the past year. It recorded its 52 week high of Rs. 631 in the month of Sep following which it started moving in a range of Rs. 550 – Rs. 600.The stock closed above this range yesterday. In the last three months, the stock moved -3% against 11% rise of Nifty’s.
The MACD line in on up-move and is supported by the rising histograms, a sign of bullishness for the scrip.
The long-term GMMA lines are starting to spread out (a bullish sign) accompanied with the expanding short-term lines, suggesting a short-term bullish move for the stock. This is further confirmed by the 9×18 bullish cross-over last week.
LUPIN has a historical volatility in the range of 0.3 to 0.6. The scrip’s volatility is at its lowest.
Looking at these technicals the stock is short-term BUY. We could give a long-term call after a decisive expansion of the long-term GMMA lines.