NeeteshJain
Long

Aurobindo Pharma Reaching out to Previous HIGH at 888

BSE:AUROPHARMA   AUROBINDO PHARMA LTD
The price action is forming new highs and higher lows for a while that indicates buyers dominance which is taking up the prices higher. Now, I believe the prices shall reach to previous high at 888 or the resistance where sellers might enter into markets again and then the fight of dominance shall shuffle.

TargetL 888
Stoploss:836
Trade active: Reaching close to 880 levels today. Shall maintain positions to achieve target.

Comments

The weekly chart is Breakout with Triangular pattern. Please check the chart bro and would like to hear your suggestion.



P.S. Waiting for your Next Educational Post :)
+1 Reply
NeeteshJain QuestionMode
Yes I shall be posting it this weekend. Btw Your above chart shall provide your another post of educational. Find out below


As marked above, you may call it a breakout from a Ascending Triangle as all points touches to the trendlines. If the price action points dont touch to the trend lines of pattern formation, it shall not be counted as a complete formation even if they look like it. Like mentioned in your post of breakout of symmetrical triangle.
Hope you gain something out of it.
Regards.
+1 Reply
What was the out come of this call
Reply
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