Hi Friends,
Pharma had been a darling of investors ,But off late most of pharma have broken their
long term trendlines or rather say many have broken their supports .
Today i am discussing a pharma major LUPIN which has been in a time consuming correction for over an year now.
Lets try to open up the chart and lable the waves.From 2100+ to a low of 1280 abc was done .From 1280 to 1750 again abc was done we can lable it as X wave.
From 1750 till now we have done a wave followed by a time consuming triangle in b wave which is still on .
which suggests a fall towards 1300 can come in c wave ,The move after triangle follows the move which was before the triangle.
On the other side ,A move abpve 1580 -86 would negate this count.Lets see over the coming weeks how the stock moves.
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