Lupin may test Rs 1040-1050: Chandan Taparia

Chandan Taparia of Anand Rathi is of the view that Lupin may test Rs 1040-1050 as long as it stays above Rs 965.

Chandan Taparia of Anand Rathi told CNBC-TV18, " Lupin is trading near to the life-time high, Rs 1009 is the immediate recent high and that is also life-time high. The stock is making the higher tops and higher bottoms on the weekly chart and it is moving out of the consolidation for the last 10-12 trading sessions. So, now this stock can catch up the rally. Till it remains above Rs 965. momentum may continue towards Rs 1040-1050 levels."

The share touched its 52-week high Rs 1,012 and 52-week low Rs 693.70 on 15 April, 2014 and 26 April, 2013, respectively. Currently, it is trading 2.67 percent below its 52-week high and 41.99 percent above its 52-week low. Market capitalisation stands at Rs 44,165.02 crore.

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