i expect lupin to give a SHARP BOUNCE BACK IN next couple of days ! no surprise if 5 + % percent rally occur within a day
as its a pharma stock , a strict stopl loss must be placed @ 805 - 810 levels
strength zone - 825 -835
Auro Pharma has announced 07.02.18 for results and the budget is on 01.02.18 so one can avoid the risk of volatility. The price has already moved down by 10% in last month. In this situation one can try the following strategy :
2/1 ratio call spread and put spread:
a. Buy 660 call 2 lots 14 to 17 range (Current-Price 15.20)
b. Sell 640 call 1 lot 21 to...
AURO has been moving in a down channel since a month. Currently making an ascending triangle along the neckline, reaching the edge of the channel. Awaiting a breakout of the channel or a reversal to complete another leg in the triangle.
AURO has been moving sideways, making a few patterns along the way. Recently completed the Cypher, and reversed already. Are we too late????
B- level seems interesting since BAT n CYPHER chare the same B-level. ANd its been tested a few times already. Its about to test that levels again. awaiting a breakout or reversal from that level.
Sell signal active on Aurobindo pharma...need to sell blw friday's low with closing stop abv 740 on swing close..target should be 680 or may be it turned from 691.75..for further details...https://www.screencast.com/t/4ZGY5oUz
CNXpharma has possibly bottomed out at 8315; atleast for the medium term
1. Completion of ABC correction (A=C)
2. Recent low at 8315 sits rights above a major consolidation zone
3. Recent Low also falls along a trendline support
4. RSI divergence on weekly and daily charts
A full EW count is not possible since the index is barely 4 years old and its...