Lupin Q3 results is a classic example of, how sentiments of investors can affect the stock price. On 5th Feb 2016, Lupin declared 12% decline in consolidated profit in its Q3 results. Surprisingly, the stock price rose 9% on the same day, and the reason for the same was attributed to third quarter earnings beating analysts expectations.
After making Triple Bottom around Rs. 1600 level, the company stock price consolidated for few weeks. The chart indicates a positive breakout with volume for a probable short term up move towards Rs.1980-2025.
As retail investors, we may get trapped by the news. Rather than blaming media and others for our mistakes, it’s always better to learn things and try to safeguard our capital. One can play out this opportunity with strict risk mitigation level placed @Rs.1736.
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Disclaimer: I do not hold any position in LUPIN.