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...
AUROPHARMA Pullback... Waiting For Confirmation Target 465 & 505
Resisting top of this channel for 4 days straight. Can be shorted with SL being daily closing above the channel for targets around low of the channel
Wait for breakout of any trendline. If continues above 50Ma with good momentum then buy can be initiated.. But remember its still in sellers zone.. break below the lower trendline may lead the price lower.
Trend change soon, RSI divergence confirms the same. Can buy on retest
Bought Auropharma @ 613.Not sure if it will come back to that price today for new entrys, one can enter at mkt if comfortable mkts are insane today so be careful while entering. Hare Krishna !
BUY above 625 SL 623 Targets 627, 630, 632, 635, 340 OR AUROPHARMA 26SEP 620 CE (₹8)
There is good chance of price to bound between 2 support/resistance line. Sell only when you see a trend reversal candle.
NSE:AUROPHARMA Short at 636.75 with SL 639.15 and TP 631.90 Note: Consult your registered adviser before taking any decision. Always risk 1% of account size per trade, adjust the position size accordingly.
Aurobindo Pharma (auropharma) (weekly) bounced from trendline support & trading inside the channel. It is holding the trendline support. Staying above the line, good for positional.
BUY above 600 SL 598 Targets 602, 605, 608, 610, 612, 615, 618, 620 OR AUROPHARMA 26SEPT 600 CE (₹20.50)
big swings on way.... breaking latest low will take it too 250 zone else it will retest 710 zone again # Green TL support is last support
GO SHORT, MEDIUM AND LONG INVESTMENT PURPOSE BUY NEAR 550 STOP LOSS 528 Disclaimer: All posts/views are for educational purpose only..!! Kindly contact financial advisor before taking position/decision.