Wait & Watch : Watchout for 640 & 690 level in Auropharma. If it breaks above 690 can go up to 800 or if it breaks below 640 it will take a support at 590.
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Wave 4 will not terminate in the area of wave 1. So come Monday worst case scenario would be markets would reverse and test area of 627-630 zone where wave 4 would continue on its downtrend again. SL here can be on EOD wave 1.
The stock has broken short term trend line and now testing is from above, later it has formed an Ascending channel and is at the lower boundaries being the confluence of both it is offering a beautiful entry for long. one can go long with Stop loss of 652 on closing basis for target of 720 reasonable risk to reward ratio.
for educational purpose only - on weekly charts a very crucial support of 625-630 may tested if it holds there then a rally may occur but if in any case this support is broken then a breakdown will occur. then 360-350 may be seen.
Auropharma is giving a buying opportunity towards 50% retracement. One can go long at current price with stoploss below 620 and targets around 760. I could go even higher but conservative targets around minimum of 760. Buy & Hold with Stoploss.
Happy Trading!!
Aurobindo Pharma has been trading at resistance of channel it may breakout or continue to follow trend and approach support 627, above 688 there is buying setup
AuroPharama is giving a Potential Short setup for Wave C down for ABC correction. One can short at current levels with stoploss just above 731 and Target around 670.
Daily chart looks weak with multiple dojis with uncertinity, good to short thinking it will break the lower channel line for a T-700, SL-730.
However, if the lower channel line gives support and the markets are not negative it may not workout.
Auro Pharma is bearish counter, this stock is trading with in the Big Candle
It is giving response to the supply line. so it will go up to big candle low.
if it is close below this low 698 break if this candle, heavy selling may be seen in this counter.
next target is swing low 615 is possible.
wish u happy trading and enjoy this trade
Aurobindo Pharma is trading in the bearish channel since breaking the uptrend, om Monday market open will decide it further direction, it may go either way, if market open red, it may retest the support 680.00 on the other hand if market open green it will go towards channel resistance 760.00, the game is 50-50. traders may wait to see where market is heading on...
AuroPharma is at support 727-728, if it breaks down that support and goes below 725 then we can see a downfall towards our trendline marked in chart & it can target 700 and below keeping in mind that it should not break 742 on the upside.
Auropharma has made a high of 891 on 12--28-2016. Since then it has been heading lower and Recently it made a double top at 895. The last top was squared at 30 days timing on coming day. Also The stock showed recovery from the trend line support. Adding to that the stock never corrected for more than 4 weeks in the whole up trend. So next week will be very...
Auropharma is giving a Buy Setup!! After the correction in 5 wave.. I would expect it to give an upward correction towards 50 to 61.8% fib levels.
Happy Trading!!
