Auropharma-trading
Short-term view of Aurobindo PharmaAurobindo Pharma has made a significant low of around 400 and started going up and has made wave 1. It corrected wave 1 between 38.2% & 50% and went higher as wave 3 which was very powerful, strong, and fast. Wave 3 has also contained a minor wave i and after correcting minor wave i @ 50% and got past minor wave i. Now, we can expect wave 3 for 530 (as 100% of wave 1), next tgt 550, 563 & 583 level. You can buy it around 495 with Stop Loss below 466
AUROPHARMA: Bullish Flag BreakoutStock is has formed a bullish flag pattern on 4H chart being the support region near 455 zone & resistance area at 474 zone. Any sustained move above the level of 475 will lead the stock towards 500/520/560 in a very sharp upside rally.
Trading strategy:
Buy on cmp 473-74 with SL of 455 and look for the immediate target of 500 and later 520/560. The measured bookish target for the bullish flag is coming about to be in the region of 560.
EXPECTING AN UPRISE IN AUROPHARMA As per the 1 Hour Chart of AUROBINDO PHARMA, we can see a beautiful Formation of "Bullish Harami" on the chart. Therefore, we are expecting a bullish momentum in AUROPHARMA in the upcoming trading sessions. Wherein it is being expected to face a resistance initially at around the levels of 713.70, 717.80, and 725.20. Whereas, on the other hand, on the downside levels, the stock may face a support at the level of 702.80, on closing basis. Closing Price (as on 24.12.21) : 709.50
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AUROPHARMA: Fundamentally cheap and expected reversalTarget 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.
AUROPHARMA SHORT (Weekly)I hope you can now see how AUROPHARMA represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Thank You
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
AUROPHARMA SHORTI hope you can now see how AUROPHARMA represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
Paid Attention to rhythm of the wave, AUROPHARMA next move....!!The wave A and B in both sets parallel channel and Wave C will be set of mnext 5th Wave.
Elliott’s cycle of the 5th Wave is under-construction. 3rd wave was extensive in price and after it, Two Sets of AB and C with slanting parallel channel .
-> Bottom Out: You have figured out that Wave 4 would normally retrace 0.618% of Wave 3.
Wave Personality : I won't expect 5th too much extensive than 3rd wave that why A, B, and C cycle fall projected in the chart.
----------One DAY chart----------
A continue move towards up-direction from level 288 to 818.
Main Resistance level is 830
From the current level price will be attracted near 769 price, and continue to follow the price up-to 842.
AURO PHARMA COMPLETED ITS TRAPPING AND READY TO MOVE DOWN !!Hi Traders,
1. On May 25th, 2020, I mentioned in the analysis is quoting for your consideration " 2. Now come to the technical part. I showed you a volume area that it is decreasing with increasing price. Therefore, the volume relationship with the price should come down. But what I feel is this is classic trapping of sellers. Hope has been creating by buyers showing weakness so that sellers start taking the good loss in the hope trade. As you know the psychology of human beings, They stay in losses and left in profit. This is what creating in this scrip." You can see trapping continued till last week. Almost one month ago I told you the psychology of this type of trade and the same happened. I gave you a target of this move in point no.3 of that post is quoting for your consideration" 3. A red channel is created at the top of a strong zone showing weakness. By confusing sellers that price will break the red dotted channel lower end and will not take the support of strong zone. But here reality is different by trapping more sellers and keeping the rest of sellers in the hope trade. At a certain point boom to the upper zone of white color in fig. This is how I Manifested the move of this stock. An illusion is being created of different factors that sellers so that sellers find their positions for entry." . You can see On decreasing volume price were trapping sellers. And exactly achieved my target. Had somebody known How to time your trade would have made good money. Because all trade had already given to one month ago. Even update also supported you in timing also. compare that post with the current you will feel the reality and get a deep insight.
2. A red dotted line channel as shown in the previous post is ready to be breached. If the yellow dotted line is taken out on the next trading session on 4 hours time frame then uptrend will change to the downside with the target of the red zone. After fulfilling the condition of the taken out price may give pull back to the yellow line which should act as resistance that line is not taken out to upside then the trend will be changed to the downside.
3, In any case, yellow line condition gets failed then will get resistance from the white zone. Chances are very less to take the upper end of the zone out. But this is game of probability so that condition can not be ruled out. The rest price will decide.
YOGESH VATS
Disclaimer:- All trading positions should be taken from consulting your financial advisor. This study is for educational purposes only.