According to chart pattern expected AUROPHARMA will give bullish movement in upcoming few trading session. After breakout of the downtrend channel this stock will give a bullish rally the target of 752 and 759+ target in next 1-3 trading sessions. It will face small resistance at 745 level. Once it give breakout done we will get projected targets as mentioned in chart.
AUROPHARMA has earlier proved to have a great support at this level. This was broken and it went doen till 650. In the last week this stock has gained 100 a piece. It crossed the earlier support with good momentum. This might be a good time to go long and buy. To be safe it would be ggod to stop loss if it goes below the line. A stop loss below 725 would be good....
Pharma sector is already much oversold but it doesn't mean that it can reverse from here tomorrow only, so whoever knows reversal trading those only please try to trade on this chart.
As one can see at the D point of harmonic pattern there is a dashed line that is called harmonic PRZ even below that there is one line with a caption like closing...
Stock in moving in a channel pattern and has taken support on the demand zone which coincides with the 200 moving support.
Entry as per the price action-candle formation on 6th else wait for the trend line break out.
1. Approaching trendline
2. Flag and Pole pattern
3. Rebound from 200 MA
4. Support from 0.5 Fibonacci level
5. Volume lacking at the moment
6. Early signs of a breakout
7. Stop loss: 936
Better visualization of the pattern using line chart:
You are always advised to use an appropriate Risk-Reward...
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.
if cross current candle's high one can long as per their trade setup and with proper sl.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.