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AUROPHARMA.......LONG OR SHORT ???

NSE:AUROPHARMA   AUROBINDO PHARMA
3
AUROPHARMA IS TRADING NEAR LAST YEAR'S SUPPORT LEVEL. AS A TRADER WHAT DO YOU DO...BUY OR SELL ?. WELL THERE ARE TWO BASE CASE SCENARIOS :-

(1) IF THE PRICE CLOSES BELOW THE SUPPORT ZONE ON A DAILY BASIS, ONE CAN GO SHORT ON RETRACEMENT OR RETEST OF THE SUPPORT ZONE FOR A TARGET OF 548 & 460
(2) IF THE PRICE HOLDS THE SUPPORT ZONE AND MOVES UP...WAIT FOR THE PRICE TO CROSS THE OTHER SIDE OF THE TREND LINE, THEN BUY ON RETRACEMENT FOR A TARGET OF 720

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