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AUROPHARMA

Visible strength above 485 closing basis.Auropharma was into a sideways zone since last few weeks. In the last session an attempt has been made to break above the zone. 480-485 levels will serve as near term resistance above which the stock can move up to 560 zones comfortably, the next supply area is placed there. The RSI has maintained itself well into the bullish levels,also the MACD have turned positive. All the above indicators are setting up positive bias for the stock.
NSE:AUROPHARMALong
by BharatJhunjhunwala
SHORT AUROBINDO PHARMA KEY TAKEAWAYS A descending channel is drawn by connecting the lower highs and lower lows of a security's price with parallel trendlines to show a downward trend. Traders who believe a security is likely to remain within its descending channel can initiate trades when the price fluctuates within its channel trendline boundaries. A more potent signal occurs with a breakout, which is when a security's price breaches an established channel's boundaries, either on the upper or lower side.
NSE:AUROPHARMAShort
by kartikkhanna0705