BSE Ltd has slipped from record highs into a downtrend, with technical signals indicating persistent seller control, while Lupin shows resilience amid short-term support levels and optimistic long-term prospects.
BSE Ltd has moved from the kind of technical strength that took it to a record ₹3,570 on April 20 to a far weaker set-up in recent weeks, according to market commentary and chart summaries. The stock has slipped into a sustained downtrend and is now trading below its 21-day moving average, a sign that sellers remain in control. The next important support is seen around ₹3,200, with ₹3,000 also in view if the weakness deepens.
That backdrop matters for the August futures contract, which was quoted at ₹3,465 in the latest analysis. On that reading, the contract still appears vulnerable to another leg lower before any meaningful recovery, with ₹3,200 identified as the likely near-term target. For a trader who entered at ₹3,602, the market view is clear: the trade no longer offers a favourable risk-reward profile, and exiting at current levels is the prudent course.
Lupin looks different. The stock has recently softened, but analysts say it is sitting on short-term support near ₹2,350, with a trendline floor around ₹2,330. That leaves room for a rebound towards ₹2,460 and then ₹2,500 if buyers step in. On that basis, the advice is to close short positions rather than press them, unless the stock breaks decisively below ₹2,330.
The longer-term picture for Lupin is still constructive, even if the near-term chart is not straightforward. Research from Prabhudas Lilladher and ICICI Direct points to a strong run in earnings, helped by US sales, niche launches and cost control, with Q4FY26 EBITDA and profit sharply higher year on year. At the same time, the brokerages warn that some of the company’s key products will face competition from FY27 and FY28, which could test how long the current momentum lasts. MarketMojo’s technical view is similarly mixed: the broader trend remains positive, but momentum indicators suggest a pause or correction is possible before the next move.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
