Quant Pick - Lupin - ICICI Direct

Time frame: Three months

Derivatives & Quantitative Outlook

The pharma space has come in the limelight in the last couple of weeks once again. The pharma index is consolidating near its lifetime highs and is likely to continue its uptrend. We believe the outperformance in this space will continue and any declines in stocks like Lupin provide another opportunity to create long positions.

The open interest in the stock has increased sharply in the last two months while current OI in the stock is at a six-month high. As the stock has also participated with a market move, we expect long positions to have been formed in it. Currently, despite closure, the stock has been able to surpass its trading range indicating prevailing positive bias in the stock. We believe fresh addition in the stock will trigger another round of up move in it.

For details, click on the link below: Link to the Report

Shares of LUPIN LTD. was last trading in BSE at Rs.1210.9 as compared to the previous close of Rs. 1198.4. The total number of shares traded during the day was 126060 in over 3842 trades.

The stock hit an intraday high of Rs. 1217.6 and intraday low of 1191.5. The net turnover during the day was Rs. 151820028.

Source : Equity Bulls

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