Lupin Ltd: Wave 3 Rally Brewing After Strong Base Formation 💊🚀

🔹 Technical Structure Elliott Wave: Wave (1) impulse was followed by a deep corrective Wave (2). The price is now consolidating in a rectangle base between ₹1820–₹2130, preparing for the start of Wave (3), which usually delivers the sharpest rally. MACD Divergence: On the daily chart, momentum is strengthening — MACD is curling up while price is still near support, hinting at a bullish divergence. AVWAP Levels: Anchored VWAP from the all-time high is now acting as a support near ₹1820. Holding above this level gives conviction that downside is limited. Breakout Zone: A close above ₹2130 will confirm entry into Wave (3), opening the path toward ₹2400–₹2500+. 🔹 Fundamental Strength Robust Financials: Lupin has shown consistent revenue and EBITDA growth over the past few quarters. High ROCE: Capital-efficient business model with improving margins in export markets. Strong Pharma Demand: Benefiting from steady demand in both US generics and India formulations. Debt Reduction: The company has been reducing leverage, strengthening balance sheet health.