Buy Lupin for target of Rs 1920: IIFL

MUMBAI: IIFL has advised traders to buy Lupin for target of Rs 1920.

“After forming bullish piercing line pattern on candlestick last Friday, Lupin is moving sideways in the range of Rs 1855-1885. Yesterday’s close above Rs 1872 accompanied with sporadically high volumes has signaled a breakout on line chart.

Stochastic oscillator has already entered in the positive terrain however; RSI is yet to show a positive crossover despite giving a breaking above from falling resistance line. Buy stock above Rs 1888 with stoploss of Rs 1875 for target of Rs 1920,” the report said.