ABC correction is ready for AUROPHARMA and Parallel Channel has penetraction at 5th wave.
The 800-700 Levels are possible short for this stock.
Kinnari + Elliott's wave theory
5 + 3 = Waves
Do you remembers my last research on AUROPHARMA with ELLIOTT WAVE?
This is a public swing trade idea from "one right trade" and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help...
Look For Sell
Entry :- 778
SL :- 850
Target :- 200DMA Or 640 (According To H&S Target Rule.)
Keep Your Eyes On Index
(Risk Must Be Managed.)
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Auro pharma is trying to make IHNS pattern on hourly charts.
Breakout will be confirmed on sustaining above 850 level or crossing of 865 levels.
pattern will be invalidated when price will sustain below 820 levels.
overall Pharma sector is looking positive.
PS: chart is only for purpose of education, please consult financial advisor before investment.
Aurobindo Pharma after making low around 290 levels , has made high of 960+ levels. Since then stock has been in correction and retraced around 38.2% till 730 levels. however stock has now given Inverse Head and shoulder pattern breakout on 1 hour chart.
we expect long term prior trend to continue, support is around 790/740 levels.
PS: chart and view for purpose...
Aurobindo Pharma Limited : Pharmaceutical Company ( NSE:AUROPHARMA ) is Making Symmetrical Triangle Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for iNTRADAY Traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that BROKE...
Aurobindo pharma clearly broke the head and shoulders pattern.
You can short on retesting of the neck line with stoploss above the right shoulder.
Blue line is target.
Your humble trader