Auro Pharma ChannelAuro Pharma is near strong support zone. if it hold , then can go towards 777 level. if breaks down then can go towards 680 level
Channels
West Coast Paper Mills Ltd! Price Channel ChartTechnical : Price Channel Target @ 380
Chart Pattern : “Bullish Price Channel”
Main Trend Line : At 8 Dec 2017, 18 Dec 2017, reaction lows formed the beginning of the main trend line .
Subsequent lows in 03 January 2018, and 10 January 2018 confirmed the main trend line .
Channel Line : Once the main trend line was in place, the channel line beginning from the 11 Dec 2017 high was drawn.
A visual assessment reveals that these trend lines look parallel. More precise analysts may want to test the slope of each line, but a visual inspection is usually enough to ensure the “essence” of the pattern.
Bullish Price Channel : Subsequent touches along the main trend line offered good buying opportunities in mid- 18 Dec 2017, late May and mid-August.
The stock did not reach channel line resistance until 22 Dec 2017 and 26 Dec 2017 (red arrow) and this marked a significant reaction high.
If channel line resistance break with an acceleration above marked (blue arrow). Then Some analysts might consider the stock overextended after this move
Strong Fundamentals :
(Fundamental Medium Term Target 800)
(Fundamental Long Term Target 1000)
1.Total (Mkt. Cap) : 2170cr
2.Debt : 0.59cr
3. Stock PE : 16.00
4.ROE :12.64%
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CMP 753
The stock recommended at 690 is very near its target of 760
Link to Previous update
We cannot time the market but when time comes one surely can make the most of it...
Consider booking profits...
Enjoy & happy week end...!!!
SBI: Whats the story...SBI
CMP 256
Observations
- trading in ascending channel since Feb 2016
- currently at lower end of channel
-trading below 50 day EMA
- trading below 200 day EMA
View going forward
Scenario 1
- stock is at major trendline support & if the stock holds on to current level then
- the stock may see a bounce towards either 50 day EMA currently around 278 or max towards mid red line of channel around 295-305 levels
- and then we may see a bigger fall
Scenario 2
- The stock breaks past the channel support
- takes support around green line (around 244)
- on bounce finds resistance at 200 day EMA
- & falls again
Given the chart setup
- likely short term target 269-278
- & if we seen rejection on any bounce then the target over medium term looks likely to be around 220-196
Take care & safe trading...!!!
