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pradipandsuvra
Mar 16, 2023 4:12 PM

Aurobindo Pharma: Bullish Setup Long

AUROBINDO PHARMANSE

Description

NSE:AUROPHARMA has quite a few interesting setup traits:

  • In the volume profile one can see the two PoC (Point of Control) - one during downtrend - another during uptrend - placed at 444 and 474 level.
  • The PoC at 474 is really interesting. Means the interest is at the sustained levels of price.
  • Absolute high volume
  • Uptick in Momentum (RSI).
  • Price Structure - was creating LH-LL. Then last one month (since 1st week of Feb) it actually pulled up and able to deny the structure by making a High higher than previous lower-high. That denotes the end of corrective phase.
  • And then price is actually inside a Darvas box since last two weeks.
  • Today it seems getting out of the Darvas box with volume and momentum.
  • See the two AVWAP placements :) The upper line avwap line it will touch as T1.


Please keep the SL at downtrend PoC at 445.

Comments
AMIT-RAJAN
Nice finding impressive chart
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