Technical Outlook & Trading Strategy:-
The share price of Lupin has registered a close below its cluster of moving averages. The momentum indicator on the daily chart is also in a bearish zone suggesting more downside in the stock.
We believe that the share price could decline towards the levels of Rs 448 /Rs 440 levels.
We recommend traders to sell in the range of Rs 462— Rs 466 levels with a stop loss placed above Rs 474.6 levels.