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Futures Trade | A break below a triple bottom offers a short selling trade in Lupin

Lupin has been a clear underperformer in the pharmaceutical sector and has formed a triple bottom sell (bearish pattern) signal on Point and Figure chart.

February 26, 2020 / 07:52 AM IST

Prashant Shah

Lupin

Lupin has been a clear underperformer in the pharmaceutical sector and against a broader market index.  On Tuesday, it has formed a triple bottom sell (bearish pattern) signal on Point and Figure chart that offers an affordable trade opportunity. Short Lupin March futures below 665 with a stop loss placed at 677 for a target of 647 and 626. Duration of this view is 5-7 trading sessions.

 

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Moneycontrol Contributor
first published: Feb 26, 2020 07:52 am

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