Lupin Ltd. CMP—Rs 425.85
Technical Outlook & Trading Strategy:-
The share price movement of Lupin has registered a breakdown from its Head and Shoulder pattern. This
is a bearish formation and the measuring implications suggest that the stock price could decline to the
levels of Rs 412.50 / Rs 404 in the near future. On the oscillators front the ADX has already given a sell
signal with bearish crossover suggesting build up on the downside.
Traders can look to sell at current levels with a stop placed above Rs 438.60 for the aforementioned
targets.
Reliance Media Works Ltd. CMP - Rs 115.30
Technical Outlook & Trading Strategy:-
The share price of Reliance Media works appears to have broken down from its downward sloping trendline support. Such a breakdown is likely to have negative implications for the stock price. We expect strong declines to occur in the next few sessions and believe that the technical set up suggests
that the stock price could test the levels of Rs 111 / Rs 108.
Short positions can be initiated at current level and again on pullbacks to the levels of Rs 117- Rs118 with
a stop loss placed above Rs 119.60
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