Auropharmalong
AUROPHARMA: Bullish Flag BreakoutStock is has formed a bullish flag pattern on 4H chart being the support region near 455 zone & resistance area at 474 zone. Any sustained move above the level of 475 will lead the stock towards 500/520/560 in a very sharp upside rally.
Trading strategy:
Buy on cmp 473-74 with SL of 455 and look for the immediate target of 500 and later 520/560. The measured bookish target for the bullish flag is coming about to be in the region of 560.
EXPECTING AN UPRISE IN AUROPHARMA As per the 1 Hour Chart of AUROBINDO PHARMA, we can see a beautiful Formation of "Bullish Harami" on the chart. Therefore, we are expecting a bullish momentum in AUROPHARMA in the upcoming trading sessions. Wherein it is being expected to face a resistance initially at around the levels of 713.70, 717.80, and 725.20. Whereas, on the other hand, on the downside levels, the stock may face a support at the level of 702.80, on closing basis. Closing Price (as on 24.12.21) : 709.50
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AUROPHARMAThis stock has given good breakout of double resistance trendlines along with good intensity of volumes, all other indicators are also suggesting for upside, one can go long at current levels or in dips (if any) with mentioned stop loss and targets on chart.
wave structure could be like this
key levels are mentioned on chart
breakout with good intensity of volume
chart pattern inverted head and shoulder neckline breakout
macd in weekly positive crossover and uptick
macd in daily positive and uptick
macd in hourly positive and uptick above zeroline
rsi in daily uptick and b/o
rsi in hourly above 60s and 70s
adx dmi in hourly
upper bollinger challenged in hourly
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
I am not responsible for your profits and losses
AUROPHARMA: Fundamentally cheap and expected reversalTarget of at least 900. Probable formation of a W pattern. If it breaks 750 levels it will hit 900. The stock has previously taken support in the current levels. Good opportunity to buy this dip. And above all of this, this stock is fundamentally undervalued. The most and probably only undervalued stock in Indian Pharma.
[Bullish]Elliott Wave Analysis of AUROPHARMA 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.
Resistance crossed. Possible upside till at least 815.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. I would suggest a target of 815. If you are too optimistic, you can go further depending on the momentum and volume then. This may go even further. But it is good to book profits at 820 since there has been some resistance earlier.
💉💊 #auropharma 🎯NSE:AUROPHARMA
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 basis stop loss so if anyone can fid reversal in this marked zone then only fo go swing trade with given stop loss. try to trade as per your trade setup and if you don't understand this reversal trading try to just observe and check out old posted charts for better understanding.
******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.
Auropharma - Rebounded from 200 MA + Bull flag patternKey Highlights:
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 ratio as per your strategy.
Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.