Aurobindo Pharma Ltd Daily timeframe Chart Analysis
📊 Chart Overview:
The Aurobindo Pharma Ltd on a daily timeframe chart from the NSE. It displays candlestick price action with key indicators like MACD, RSI, volume, support, and resistance levels. ATR trailing stops and colored zones highlight trend shifts.
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🔍 Key Chart Feature and Pattern Observation:
1️⃣ The stock experienced a downtrend from mid-August to mid-November, followed by a consolidation phase.
2️⃣ A double-bottom pattern seems to have formed near the ₹1173 level, suggesting a potential trend reversal.
3️⃣ There’s a clear breakout above resistance around ₹1276, supported by strong green candles and volume spikes.
4️⃣ Support and resistance levels are well-defined at ₹1173 (support) and ₹1592 (resistance).
5️⃣ ATR trailing stops indicate a bullish momentum with green zones appearing recently.
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📈 Indicator Analysis:
🔸 Volume:
- Noticeable volume spike during the breakout above ₹1276, indicating strong buying interest.
- Before the breakout, volume was lower, suggesting accumulation.
🔸 MACD (Moving Average Convergence Divergence):
- The MACD line (black) has crossed above the signal line (red), indicating bullish momentum.
- The histogram is green and increasing, further confirming bullish sentiment.
🔸 RSI (Relative Strength Index):
- RSI is trending upward and is currently at 55.11, indicating strength but not overbought yet.
- A crossover above 50 reinforces bullish momentum.
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📍 Key Level or Price Level:
✅ Support Levels: ₹1173
✅ Resistance Levels: ₹1276 (recent breakout), ₹1592 (next major resistance)
✅ Key Zone: ₹1276-₹1300 acts as an immediate support post-breakout.
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📝 Overall Summary:
- The stock has transitioned from a downtrend to an uptrend, confirmed by a breakout
above ₹1276.
- MACD, RSI, and volume all align with the bullish outlook.
- The double-bottom pattern suggests further upside potential.
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📊 Trading Strategy:
1️⃣ For Swing Traders: Buy near ₹1276-₹1300 zone with a stop-loss at ₹1173.
2️⃣ For Target: Aim for ₹1450 as the first target and ₹1592 as the second target.
3️⃣ For Short-Term Traders: Monitor RSI for overbought levels and consider profit
booking near ₹1450.
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✅ Conclusion:
Aurobindo Pharma Ltd shows a bullish breakout supported by strong volume, positive MACD crossover, and RSI strength. Traders can consider long positions with proper stop-loss and target levels.
The Aurobindo Pharma Ltd on a daily timeframe chart from the NSE. It displays candlestick price action with key indicators like MACD, RSI, volume, support, and resistance levels. ATR trailing stops and colored zones highlight trend shifts.
---
🔍 Key Chart Feature and Pattern Observation:
1️⃣ The stock experienced a downtrend from mid-August to mid-November, followed by a consolidation phase.
2️⃣ A double-bottom pattern seems to have formed near the ₹1173 level, suggesting a potential trend reversal.
3️⃣ There’s a clear breakout above resistance around ₹1276, supported by strong green candles and volume spikes.
4️⃣ Support and resistance levels are well-defined at ₹1173 (support) and ₹1592 (resistance).
5️⃣ ATR trailing stops indicate a bullish momentum with green zones appearing recently.
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📈 Indicator Analysis:
🔸 Volume:
- Noticeable volume spike during the breakout above ₹1276, indicating strong buying interest.
- Before the breakout, volume was lower, suggesting accumulation.
🔸 MACD (Moving Average Convergence Divergence):
- The MACD line (black) has crossed above the signal line (red), indicating bullish momentum.
- The histogram is green and increasing, further confirming bullish sentiment.
🔸 RSI (Relative Strength Index):
- RSI is trending upward and is currently at 55.11, indicating strength but not overbought yet.
- A crossover above 50 reinforces bullish momentum.
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📍 Key Level or Price Level:
✅ Support Levels: ₹1173
✅ Resistance Levels: ₹1276 (recent breakout), ₹1592 (next major resistance)
✅ Key Zone: ₹1276-₹1300 acts as an immediate support post-breakout.
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📝 Overall Summary:
- The stock has transitioned from a downtrend to an uptrend, confirmed by a breakout
above ₹1276.
- MACD, RSI, and volume all align with the bullish outlook.
- The double-bottom pattern suggests further upside potential.
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📊 Trading Strategy:
1️⃣ For Swing Traders: Buy near ₹1276-₹1300 zone with a stop-loss at ₹1173.
2️⃣ For Target: Aim for ₹1450 as the first target and ₹1592 as the second target.
3️⃣ For Short-Term Traders: Monitor RSI for overbought levels and consider profit
booking near ₹1450.
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✅ Conclusion:
Aurobindo Pharma Ltd shows a bullish breakout supported by strong volume, positive MACD crossover, and RSI strength. Traders can consider long positions with proper stop-loss and target levels.
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