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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 ...
1) CNX Pharma on verge of breaking 1 year trendline
2) Making higher highs andhigher lows since jun 6
3) currency depreciation and new launches in usa market will give support to bottomline
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.
I am strongly bullish on auro for it can give 4 -5 % return in next 5 days!!!!!
Buy AUROPHARMA above 775
NSE:AUROPHARMA touched the support line, at 718, on Friday and retraced to 724 levels.
Buy Aurobindo above 731. Target 760+. SL 717
Long Aurobindo pharma retracement completed Target 775
Testing its multiple supports placed around Rs.684 (38.2% FR, dual moving averages), should give a bounce to at-least 751. Above 751, it can then retest the high of 793.
This is my third post on Auorobindo. Refer https://in.tradingview.com/chart/AUROPHARMA/ghvZgifw-Aurobindo-P-Will-this-pill-end-the-pain/ 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 https://in.tradingview.com/chart/AUROPHARMA/ghvZgifw-Aurobindo-P-Will-this-pill-end-the-pain/
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.
Double Bottom on Daily chart .
RSI at 31.45
Near long term support.
Buy for target of 675
Stop loss below 600
Aurobindo Pharma has been trading in down trend and at its long term support,stock may see upside movement from this level to channel resistance around 655 in near term.
Wait & Watch: Watchout for 640 & 690 level in Auropharma. If it breaks above 690 can go up to 800 or if it breaks below 640 it will take a support at 590.
CMP - 703-704 ( fluctuating )
Target - Hold till end of day, ride trend
SL - 700
Aurobindo Pharma has been trading in down trend but it closed with bullish sign making a bullish hammer, traders may enter long up the channel resistance of around 720 and this level is crucial and channel breakout is possible as it has already tested the log term support.