AUROPHARMA SHORT TRADE(IF PENNANT BREAKOUT DOWN)
SHORT AT THE BREAKOUT OF THE PENNANT AFTER
2:30 THE BAR WILL BE COMPLETE A BREAK BELOW
THE SUPPORT LINE OF 684 IS A GOOD INDICATION
AUROBINDOPHARMA breakout the trend and retest zone mention the chart keep watch the trade before entering the trade
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities markets can be substantial. You should...
Aurobindo pharma looks week. The main trend as well as the short trend is week. I recommend shorting @540-530 with a stop loss of 545 and target of 510. You can buy put for current month, strike price of 530 or 520.
This is my third post on Auorobindo. Refer and for previous posts.
Last time I reviewed the stock it was hovering below 600 levels. The situation has improved a lot since then. As I stated in my first post that 580 would be a key level for the stock, the stock tested...
.....but when time comes, you will certainly make the most of it...:-)
That's the advantage of interacting with charts directly...
Identify levels...when they come be in a clear decision making mind frame to act...reap the benefits of listening to charts directly
The stock has crossed our 1st target of 625 & in the process has also taken out 50 day EMA in style...
This is the continuation of my previous long term analysis on Aurobindo
As expected Aurobindo took nice support at 580 and rebound sharply upto the falling trendline of the downward sloping channel.
As expected stock seems facing resistance near 620-630...
Wave 4 will not terminate in the area of wave 1. So come Monday worst case scenario would be markets would reverse and test area of 627-630 zone where wave 4 would continue on its downtrend again. SL here can be on EOD wave 1.