Target of at least 900. Probable formation of a W pattern. If it breaks 750 levels it will hit 900. The stock has previously taken support in the current levels. Good opportunity to buy this dip. And above all of this, this stock is fundamentally undervalued. The most and probably only undervalued stock in Indian Pharma.
Trade closed: stop reached
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Stop loss triggered. Support broken with good volume. Not safe to be in the trade anymore. Let's stick to the rules and stop our loss. We will get plenty of other opportunities to recover it out.
instead of that i am gonna short auropharma in futures with target upto 300 level approx 50 % gains once the support breaks
aritraghosh09
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@DhRuV0007, I do not think that will happen. The intrinsic value of the stock is way above the current price. In fact, the book value is 277. The last two quarterly results have been bad which was in line with expectations. I don't think this will make the stock trade near it's book value when most companies in the industry trade with a P/B ratio of above 10. Fundamentally, what you expect seems unrealistic. And technically, even if the support breaks I don't see it going to 300. Let's see.