AURO PHARMA - NEUTRAL
Updated
Reasons for going short and setup:
1) About to break from Head & Shoulders pattern.
2) Trading below 100 and 50 EMAs
3) Selling pressure seen as it is near around all time high.
Setup:
Entry: After breakdown from neckline with good volume. Ideal entry below 850.50.
Stop Loss: Can keep at 856.00; slightly above the support zone.
Target: First target near 840.00 levels where is a support.
RR Ratio: 1.75 (Entry - 850.00; SL - 856.00; Target - 839.50)
Reasons for going Long and setup:
1) Some good buying seen near the support zone which can lead to breakout from the trendline.
2) Still trading above 200 EMA.
Setup:
Entry: Can enter after breakout from trendline with good volume. Ideal entry at or above 864.00.
Stop Loss: Can keep at 852.00 - 853.00; slightly near and below the support zone.
Target: First target near 880.00 levels where is a resistance.
RR Ratio: 1.5 (Entry - 864.00; SL - 852.50; Target - 880.00)
Note: Can keep an eye on NIFTY Pharma.
1) About to break from Head & Shoulders pattern.
2) Trading below 100 and 50 EMAs
3) Selling pressure seen as it is near around all time high.
Setup:
Entry: After breakdown from neckline with good volume. Ideal entry below 850.50.
Stop Loss: Can keep at 856.00; slightly above the support zone.
Target: First target near 840.00 levels where is a support.
RR Ratio: 1.75 (Entry - 850.00; SL - 856.00; Target - 839.50)
Reasons for going Long and setup:
1) Some good buying seen near the support zone which can lead to breakout from the trendline.
2) Still trading above 200 EMA.
Setup:
Entry: Can enter after breakout from trendline with good volume. Ideal entry at or above 864.00.
Stop Loss: Can keep at 852.00 - 853.00; slightly near and below the support zone.
Target: First target near 880.00 levels where is a resistance.
RR Ratio: 1.5 (Entry - 864.00; SL - 852.50; Target - 880.00)
Note: Can keep an eye on NIFTY Pharma.
Trade closed: target reached
target achieved
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.