Aurobindo Pharma Limited had breached prior 52 Week High 734.80 successfully. Increased volume backing the momentum.
Technical Indicators are Bullish.
Time-trend Indicator is Bullish.
Currently, the stock is moving in a rising channel. Once it breaks out of the channel with Volume, a further upmove is expected.
Swing Low of 698 is the nearest...
Hello Trader, Here is the full analysis of MOTHERSUMI:
1) On the Daily chart we can see it as formed butterfly pattern and is inside raising wedge ( Bearish pattern ).
2) Price is testing a strong resistance zone and can test this zone for up move and if it fails then on the basis of butterfly and strong resistance one can look for short.
How can you support...
Bajaj Auto is in a DT in Weekly / Daily TF, and is taking support on Daily support of 2417. this support line has been tested several times, and therefore has become important support.
if this support breaks and the candle sustains, it would be a good candidate to go short.
I have plotted only motive phase & will update for corrective phases. I think NIFTY will make the bottom around the 6800 zone. While forecasting the exact bottom is nearly impossible but we can use it to take short term positional trade.
In two of my previous Nifty 50 charts, I have described how bearish candlestick is forming near Elliott wave 4. This further...
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