Aurobindo Pharma
- The stock has been an underperformer since May 2021
- Was the recent breakdown below 680 just a shakeout of weak hands or would it get resisted again?
- We are soon to find out... The stock is near make or break zone.
Momentum might be seen on sustaining above 712
Note: In our last stint with Aurobindo Pharma it did not work out that...
NSE:AUROPHARMA
Support: 665 (If sustained)
2nd Support: 610
50 days SMA has became a resistance.
Check yourself with PaperTrading.
Look for good opportunity Good return can be seen in coming months.
AUROPHARMA : cmp : 697.6
After some significant correction from ATH,
its consolidating almost 90 days.
And it has been formed a good base near 670-700 level.
So downside limited.
Now trying to breakout towards upside.
Close above previous high. RSI & MFI trending up.
if it surpass and sustains above the 710 level, a
buying movement could be possible in the near...
I get a lot of questions about Elliott Wave but a particular question often received from the followers:
Where to start wave counting on the chart?
How do I begin/start wave counting on the chart?
How do you do Wave Counting?
I’m going to introduce working 3-tricks which are used by me while establishing Elliott Wave Counting on a chart. These are my...
Technical Analysis
Aurobindo Pharma has taken support at upper range of support box(630). It can move upwards after taking support at 630 price level. It is good time to accumulate share at current levels for long term.
Fundamental Analysis
Current PE : 7.45 (Undervalued in comparison to peer Pharma stocks)
Sector PE : 38.7
Below data for previous 5...
Short Term Bullish for a TP of 750 & 780. Sl Last swing low on weekly 620.
Long Term Graph is not Promising for Longs Giving Bearish Bias.
A pull back to 30 ema(Weekly) on cards, before next leg Correction. Parallelly Having 200 ema Daily Resistance near the same levels along with Long Term Monthly Trendline.
Build your Position Accordingly..
Final Note_ Do...
Hi everyone, Aurobindo pharma consider buy 623 target 800 stoploss 545.
LOGIC BEHIND TRADE : Stock is near it`s weekly support (620-580) support identified from harmonic half bat pattern level 0.618 stock can bounce from support & can go upto it`s previous resistance 800 stoploss only 15 points from support. NSE:AUROPHARMA
End to bear season. The stock is at good support and at fib golden zone.
Once the bullish signal is seen, time to go long...
Disclaimer:
The above analysis is for education purposes. Kindly take expert advice before taking a trade.
Auropharma has taken support at 677 on the weekly & daily chart. It also had formed a inverted cup and handle formation.
This indicates near term downtrend if it breaks the support at 677.
Target 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.
Aurobindo Pharma Ltd. engages in the manufacturing of generic pharmaceuticals and active pharmaceutical ingredients. Its portfolio includes antibiotics, anti-retrovirals, cardiovascular, central nervous system, gastroenterological, anti-allergies, and anti-diabetics. The company was founded by Penaka Venkata Ramprasad Reddy and Kambam Nithyananda Reddy on December 26, 1986 and is headquartered in Hyderabad, India.
NSE
