AbhishekHSinghCMT

Auropharma- What Next Post Beautiful 5 Waves Down

Long
AbhishekHSinghCMT Updated   
NSE:AUROPHARMA   AUROBINDO PHARMA
2
Post the fall from 895 to 680 - Auro will likely do an ABC count- corrective waves are tough to guess-what type will it be but likely it should look for 61.8% of zone of the fall from 895 to 680 which is 812-815 as the resistance zone because it has already crossed 50% resistance zone at 788-790.

Trading Strategy
Look for a pullback as a short term buying opportunity & likely above 795-800 zone- if sustained, then one can look for 812-815 zone as mentioned above. Target could get extended to swing high 825 but be careful, it could be touched & go types(Take the money & run away from the market)- sometimes they don't give time to react.

Trade active: 10:16 Hrs 15th Nov2016

Last Price@745

The Auro started this aggressive fall from below 795 -we were supposed to buy above 795. Day's High@791

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

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