Lupin Ltd. CMP—Rs 471.95

Technical Outlook & Trading Strategy:-

The share price of Lupin has registered a break-out above its key resistance level of Rs 465--Rs 466. The momentum indicators remain in the rising trajectory and indicate strength in the current up-move.

We expect the stock price to test levels of Rs 488 / Rs 496 shortly. We recommend a buy with a stop loss placed below the level of Rs 460.40

Oil & Natural Gas Corporation Ltd. CMP—Rs 256.95

Technical Outlook & Trading Strategy:-

The share price of ONGC has registered a breakdown form a descending triangle formation on its weekly chart.

It should be noted that descending triangle breakdown signifies distribution and suggest price decline.

We believe that the stock price could decline towards the levels of Rs 249 /Rs 245 in the near term.

We recommend Sell at current levels and again on pullbacks to the level of Rs 259 - Rs 261 with a stop loss placed above Rs 265.60.