manavtechresearch
Short

STBT IN AUROPHARMA ON CONDITIONAL BASIS AUG FUT

NSE:AUROPHARMA   AUROBINDO PHARMA
AUROPHARMA SHORT TRADE(IF PENNANT BREAKOUT DOWN)
AUGUST FUTURES
SHORT AT THE BREAKOUT OF THE PENNANT AFTER
2:30 THE BAR WILL BE COMPLETE A BREAK BELOW
THE SUPPORT LINE OF 684 IS A GOOD INDICATION
SHORT@684
STOP@590
TARGET@666
LOT:1000
QTY:2
Aug 28
Trade closed: stop reached

Comments

Looks like its evolving into a flag. Would like to know your view on this.

Thanks,
Rasika
Reply
manavtechresearch Rasika_S_Patel
@Rasika_S_Patel, Yes rashika the stock was trading in consolidation before breaking out we need to understand flag patterns are continuous pattern which show us that the trend is likely to continue where as a pennant is a smaller version of symmetrical triangle with difference in time(no.of days)if breaks 692 will test 708 can go higher if dollar supports i suggest sunpharma is a better one because the stock has entered into consolidation after touching 645.
TARGET FOR SUNPHARMA IS 725
please feel free to ask any more questions
Reply
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