AUROPHARMA - Short term View

May 29

AUROPHARMA : is making ascending triangle pattern with lower highs and higher lows which means it can give breakout in any direction with. On lower side 1160 is the immediate support and on upper side LTH (1145) is the resistance.

For long term view please refer below link :-

May 29

Note

* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.

May 30

Note

AUROPHARMA respected the triangle lines on both the sides, it touched 1206 (lower trendline) and reversed till 1226 (upper trendline) a run of 20 points within morning session

May 31

Note

After breaking the triable pattern today it made a high near the trendline 1210 and went down till 1162, a super move for intraday trade

Jun 24

Note

As per Elliot wave theory wave 1,2,3 seems to be completed at 1292, wave 3 correction phase must be running now and whatever low is formed in the form of zig zag pattern abc from low of wave c the target will less than length of wave 3 that is 457 points (1292-835).
So it is time to accumulate on dips and then wait for script to cross 1292. As it is year long target so patience is needed and stop loss must be placed at appropriate points.

Jul 31

Trade closed manually

There is a Long term view post on this stock