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.
Regards
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.
The price action is forming new highs and higher lows for a while that indicates buyers dominance which is taking up the prices higher. Now, I believe the prices shall reach to previous high at 888 or the resistance where sellers might enter into markets again and then the fight of dominance shall shuffle.
TargetL 888
Stoploss:836
I'm of the opinion that AUROBINDO will fall.
As long as it stays below 757 we could see 730 Levels..
SL= 777*****************************************************************8
