Aurobindo pharma looks very strong on weekly chart, gives breakout on falling resistance trendline and closed above strongly and gives breakout on Bollinger bands too volume indicator gives signs of coming bullishness in this stock. Fundamental strong counter.
CAUSE OF LONG-:
1- Falling resistance trendline breakout.
2- Bollinger bands breakout.
- has been sideways since May 16, 2022
- stock has moved past 20 day EMA
- stock has crossed 50 day EMA
- the stock is on the verge of breaking range bound channel
- sustaining above 552 is going to be the key
-target for the set up 612 / 630
Consider buying 570 Call Option at cmp & /or on dips in Spot Aurobindo Pharma around 552
- Line of Support at 680
- 20 day EMA and 50 day EMA around 668 and 664 respectively
- 200 day EMA around 728
Momentum may come once the stock gives a close above 728 - 740 zone
20 day and 50 EMA might provide Support
Given the set up, one may consider
Selling Aurobindo Pharma 28 April expiry 680 Put option currently...
AuroPharma has pulled back to a level which was previously a resistance zone near 600. This zone may act as a support now because of a basic principle of support and resistance.
"A resistance once broken on the upside may turn into a support later on. Conversely, a support once broken down may act as resistance later on".
The level 600 coincides with the 61.8%...
- the stock has given a breakout in the short term on December 8, 2021
- the stock has given a breakout in the medium term on December 22, 2021
- 20 day EMA cross over above 50 day EMA on Dec 29, 2021
Is Aurobindo finally recovering from the illness (that took it down from 1063 odd levels to 620 odd levels) and roaring to get back???
A final push...
- The stock has been an underperformer since May 2021
- Was the recent breakdown below 680 just a shakeout of weak hands or would it get resisted again?
- We are soon to find out... The stock is near make or break zone.
Momentum might be seen on sustaining above 712
Note: In our last stint with Aurobindo Pharma it did not work out that...
Aurobindo Pharma has taken support at upper range of support box(630). It can move upwards after taking support at 630 price level. It is good time to accumulate share at current levels for long term.
Current PE : 7.45 (Undervalued in comparison to peer Pharma stocks)
Sector PE : 38.7
Below data for previous 5...
i have shown two possibilities for up move. First one is if candle directly closes above blue trendline at B stock may directly hit upside target range 939-949.
Second possibility is if it falls it must follow movement as shown with blue arrows.
This is a follow up. In our earlier post we had suggested the need of holding 738-712 odd levels.
Now on weekly charts we see dragonfly doji and then later gravestone doji both forming around 712 odd levels
The set up has a target of 758 / 805 / 820 odd levels
Keep a SL at...
Aurobindo Pharma - Long
Buy : ₹ 697 - ₹ 730
Target: ₹ 768.05, ₹ 853.15, ₹ 903.6,
Support: ₹ 673.5
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