Aurobindo Pharma Short

Auro Pharma is in process of forming head & Shoulder pattern, completion of left shoulder & head has been done right shoulder formation is in process. Once it break neckline trade can be executed.

Target : The profit target for the pattern is the price difference between the head and the low point of either shoulder. This difference is then subtracted from the neckline breakout level (at a market top) to provide a price target to the downside

Stop Loss : stops are placed just above the right shoulder (topping pattern) after the neckline is penetrated