Bullish Pennant/Flag is a continuation pattern that if appears in a uptrend/downtrend indicates further continuation of that trend. Here, I have used the monthly chart of AUROBINDO PHARMA in which it gave a breakout after a major consolidation. Besides that its fundamentally strong and YOY revenue has been increasing. The whole Pharma sector gave a correction but a reversal is expected soon. While trading these patterns make sure you trade on retests right after a breakout. Let's turn to FUNDAMENTALS now (Beyond Technical Analysis)
Mkt. CAP - 40,963 Cr. PE- 7 OPM- 21% ROIC=14% Cash flow from operations- 3328 (increasing) All the levels are mentioned in the chart. Happy Investing!
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This is a long term target. May take upto months. Stay Invested!