Bravetotrade

Aurobindo: The Pill Mitigated Some Pain

Long
NSE:AUROPHARMA   AUROBINDO PHARMA
This is my third post on Auorobindo. Refer   for previous posts.

Last time I reviewed the stock it was hovering below 600 levels. The situation has
improved a lot since then. As I stated in my first post that 580 would be a key level for the stock, the stock tested this level once and bounced higher to 617. Then it retraced where I posted a base building attempt at 598 levels and a word of caution. Stock took a sharp spring bounce from here, pierced 627 level like its nothing and reached the current level.

Present Scenario:
My personal opinion is that although we might face some hiccups, the stock could test 700 zone, which is also the 50% retracement of entire bear move shown in chart. Perhaps you may see some profit booking in this zone.

Lets see how the price action unfolds.
Trade Safe, Stay Healthy.

Hit like if you agree.

Best Regards
Afraidtotrade
Comment: Link for my second post.
Comment: Link for first post.
Comment: Approaching the target zone

Comment: As the stock has achieved the targets its wiser to either book some profits or tighten stops. One can look for SL below 680 and if stock makes a new high one can trail up the SL further.

Comment:
Closing this post.

Comments

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