AURO PHARMA - CAUTION LONG at Higher levels till Clears 792-805.
AURO PHARMA- Scrip til clears 792 - 805 zone decisively, one should avoid long at Higher levels since this will result in Lower top ,
lower Bottom continuation and the possibility of falling back to 695 can't be ruled out.
At the same time , the move from 695 to 792 looks like IMPULSE 5 wave move.It is advisible to wait for FR levels of this Rally
and look for support near 50% or 61.8% FR levels with strict SL below these levels on closing basis.
If finds support at any of these levels , then chances of breaking above the Resistance zone 792 - 805 and further highs can be expected.
Till clarity emerges, one should avoid short near FR Support levels and also avoid long near 785 to 792 Zone.
AUROPHARMA
Note: I am not a Qualified Technical analyst. Please do your own analysis before taking any Investment decisions.
lower Bottom continuation and the possibility of falling back to 695 can't be ruled out.
At the same time , the move from 695 to 792 looks like IMPULSE 5 wave move.It is advisible to wait for FR levels of this Rally
and look for support near 50% or 61.8% FR levels with strict SL below these levels on closing basis.
If finds support at any of these levels , then chances of breaking above the Resistance zone 792 - 805 and further highs can be expected.
Till clarity emerges, one should avoid short near FR Support levels and also avoid long near 785 to 792 Zone.
AUROPHARMA
Note: I am not a Qualified Technical analyst. Please do your own analysis before taking any Investment decisions.