AbhishekHSinghCMT

Auropharma- It did not move above 795- An Alternate Count

Short
NSE:AUROPHARMA   AUROBINDO PHARMA
3
From last update- "Post beautiful 5 waves" - suggested that moving above 795-800 -it will likely travel to the zone 812-815- which is 61.8% retracement of the fall from 895 to 680.

What happened?
Made high@791 -post that had an aggressive fall to lows@698. So if it continues down below 698-there is short side opportunity & going below 680- It will confirm that it is early in 3rd wave & shall be in bears command.

Alternate count
Fall from 895 to 680 has been taken as wave-1. Retracement to highs@804 is wave-2 & going below 680- likely it shall be a wave-3.



What Next post beautiful 5 waves down

Top@895- Is this the end- click the chart
Trade active: 07:30 Hrs 23rd Nov2016

Last Price@720

Keep a watch if Auro starts moving below 698.

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

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