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2 months ago
BUZZ-India's Lupin hits near 3-yr low, technicals suggest further downside
June 22, 2017 / 5:32 AM / 2 months ago

BUZZ-India's Lupin hits near 3-yr low, technicals suggest further downside

** Shares of Lupin Ltd fall as much as 2.3 pct to 1,070.1 rupees, their lowest since July 2014

** Stock breaks a support at 1,101.4 rupees, the 76.4 pct projection level of wave A tmsnrt.rs/2ssHHJq

** Stock rides wave C of a three-wave corrective pattern, wave C might take the stock up to a 100 pct projection of wave A identified at 901 rupees

** RSI shows resistance in the range of 40 – 50, reversal may occur once RSI cuts above 50

** Stock is down 26.36 pct this year as of Wednesday's close compared with NSE Index's 17.7 pct gain (RM: gaurav.dogra.thomsonreuters.com@reuters.net)

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