Only for Educational Purpose---------------------
Based on Support and Resistance >>
Target 1 - 1042
Target 2 - 1062
SL - 996
Time Period 2-3 Trading Days.
Auropharma Range breakout near the support zone.Taking resistance of a Tl now. Looks good for intraday if breaks the TL and holds above the mentioned price label.
1. looking strong above -963, have position for the targets of -T1, T2, stoploss - 957
2. looking weak below -955, have sell position for the targets of -948, 941. sl- 961
3. trade will remain void if opens big gap up or gap down.
AUROBINDO PHARMACEUTICALS WAS FACING RESISTANCE OF THE TREND-LINE ON MONTHLY TIME FRAME
NOW IT BROKE THE TREND-LINE AND SUSTAINING ABOVE IT HAS CONFIRMED BREAKOUT
ONE CAN EXPEXT THE TARGETS MENTION ON THE CHART IN 1-3 YRS
Stock is in support zone as we can see multipal time support between 1004-1000
Make or break levels
If open gap up immidiate resistance is 1013 if give breakou and susitain above 1017 then go long on till 1035
if open gap down we can see levels of 985...
200 days Ema which is 1011 will be strong resistance and support if give break out both side ...
Breaking the current high of 1064 we may see 1140 and if crossed 1200 but that is where the fall begins and again good to buy at 725. Problem is there is no good volume with increase is price which is a worry and it is creating a megaphone pattern in higher time frame.
Good Setup For AuroPharma Pure Price Action Based ...
I think 1034 is big hurdle for this stock because the way stock fall from this levels with big Volumn..
i will suggest go long After 1035 then we can see upside target ...BUY@ 1035--SL@1015-1010
Targets Shown in chart..R:R=1:1.5
now it in strong support Zone ...IF it break then can see downside levels shown on chart..
Aurobindo Pharma looks to breakout the trend. Currently there is a resistance at 1010 range and a strong support on volume profile near 940 range. The stock has tested its low and is currently in the phase of its second leg.
If the stock breaks out above 1010 range, buy it with a target of 1050-1100. Keep a stop of 980
AUROPHARMA - Breaking ATH and coming out of the consolidation of almost 6 years. Faily performing stock which one might consider to hold for few years. Largecap hence dont expect multifold returns. CMP - 1038. Consider adding if you are looking for largecap investment. Else avoid
