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Auro Pharma: On verge of Breakout in to unchartered territoryAurobindo Pharma CMP 965.75 Observations - we are looking at a weekly chart of Aurobindo Pharma - the stock tried it's luck to trade above the red line back in August 2020, but it could sustain on a weekly closing basis - in the current set up, the stock is sustaining above the red line on a weekly closing basis - the stock has closed near the high of 967 made in August 2020 - this stock needs to be watched closely Any stock moving into unchartered territory after multi-year breakout can be strong candidate and we could be looking for targets of 1166/ 1204/ 1320 to begin with... - sustaining above the red line for another week or may be two, could increase the probability of scaling newer highs drastically - any dips towards the blue line / red line makes an interesting case for Longer term horizon Alternatively , One may consider a Bull Put Spread strategy Consider selling 880 Put option and buying 840 Put option The strategy has a 10% ROI potential till 28 January 2021 The strategy has 3 important aspects, - if the stock continues to rise, I would not lose on to the opportunity. - If the stock falls moderately, I anyways intend to and am comfortable to buy at Mera wala Price in Equity around 905 -880 levels and - 3rd point: if it manages to close above 880 on 28 January 2021, I still stand to gain 10% from the strategy as well as Buy the stock at Mera wala Price in Equity. So no matter whether the - stock price rise or - stays where it is or - falls down I am in a happy state of mind in all 3 situations... 😊 Sounds Interesting...Curious... Is it really possible... Welcome to the World of Option Strategies If you wish to learn, message in Private Do Hit the Like button and don't forget to Follow...!!! Take care & safe trading...!!! Disclaimer: - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:AUROPHARMALong
by indiamarketoutlook
AURO PHARMA - NEUTRALReasons for going short and setup: 1) About to break from Head & Shoulders pattern. 2) Trading below 100 and 50 EMAs 3) Selling pressure seen as it is near around all time high. Setup: Entry: After breakdown from neckline with good volume. Ideal entry below 850.50. Stop Loss: Can keep at 856.00; slightly above the support zone. Target: First target near 840.00 levels where is a support. RR Ratio: 1.75 (Entry - 850.00; SL - 856.00; Target - 839.50) Reasons for going Long and setup: 1) Some good buying seen near the support zone which can lead to breakout from the trendline. 2) Still trading above 200 EMA. Setup: Entry: Can enter after breakout from trendline with good volume. Ideal entry at or above 864.00. Stop Loss: Can keep at 852.00 - 853.00; slightly near and below the support zone. Target: First target near 880.00 levels where is a resistance. RR Ratio: 1.5 (Entry - 864.00; SL - 852.50; Target - 880.00) Note: Can keep an eye on NIFTY Pharma.
NSE:AUROPHARMA
by Rajesh_S
5