Previous Lupin short term trade stop los hit. However this chart is for Medium to Long Term perspective. Good buy zone 973-993 De-risk the trade at 1050 and continue to hold for bigger targets of 1160, 1309 and 1400+
Price is now at second/strong support of 973-993 after breaking previous support of 1010-1020. Pharma sector had its bad days since last 2years, but now they have cope up the situation and we are seeing a good hold back in prices, making it the best bet again for coming months/years.
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Price gave good bounce and easily beyond our de-risk zone.. now just wait for targets to be achieved.
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This is the reason, why de-risking a trade is always important. Lupin taken by storm with news based sell-off.. such a big drop may take time to recover