AUROPHARMA
Auro Pharma : Range BuyAuro Pharma is trading in the range shown by trendline on chart. It has bounced 3 times (up arrow) from the support line of consolidation zone. RSI is also in oversold territory and has rebound from below 20 to above 20. Any correction towards 695-690 range can be used to initiate buy position with stop loss below 668 for target 732- 755 on up side.
AUROPHARMA* On the daily chart stock price has decisively broken out from its multiple resistance zone of 822 - 830 levels on closing basis and sustaining above the same.
* This breakout is accompanied with increase in volume which supports bullish sentiments ahead.
* The daily as well as weekly strength indicator RSI and the momentum indicator Stochastic both are in positive territory which supports upside momentum to continue in near term.
* Stock price is sustaining well above its 20,50 and 100 day SMA which supports bullish sentiments ahead.
* The above analysis indicate an upside of 864.50 - 881 with stop loss 800
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RISKY BUY AUROPHARMA || SL-748Buy Auropharma on a minor dip with a SL of 748 and target of 772. Do not take a trade if it opens above 767. #intraday
Adjust trading volumes as per entry price.
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