AbhishekHSinghCMT
Short

Auropharma- What a fall...770 to 730-What Next?

NSE:AUROPHARMA   AUROBINDO PHARMA
63 0 7
Moving Exactly in channel as shown in previous update- Auropharma             had a good fall from 770-730 in last few sessions.

Let is fall further & Take Support of A-C Trendline & wait for price action to see the bounce- once confirmed -that will be green signal to go long or wait for the channel to be breached on upside- in that case hold to see whether recent low is taken out or not- in that case -one can go long for upside targets.

Regards,
Abhishek             H.Singh, CMT
Trade active: 17:55 Hrs-IST-24th Aug2016- Auropharma ...Upper channel got breached ..look it ended almost 7% up@787.50- 50 points up.
Trade active: 09:00 Hrs-IST-26th Aug2016- Auro pierced the channel -Started moving up- It was an excellent buy call. Last Traded at 789. Be careful -Trendline Falling from B-D can give resistance - or another strategy going above D-Wave high@814 - can be bullish
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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