AbhishekHSinghCMT

Auropharma- Top@895 -is this the end?

Short
NSE:AUROPHARMA   AUROBINDO PHARMA
Long Back when Auro Pharma was trading at 770's - I was looking out for the last leg upside post-e-wave of the triangle in larger degree 4th wave. Likely we got the move also & Auropharma made new high@895 which was close to previous high@891.50.

Prices got rejected in the zone 890-900 likely indicate that auropharma could have already topped@895. Fall looks impulsive, which made a low@806 - bounce post low@806 looks very corrective & could be shaping out as A-B-C move after sharp down move from 895 to 806.

On longer term- trend could be bearish

Early Update-Triangle shaping out

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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