Profit booking and trailing is the important concept of trading which people ignore's many time , if somebody is following the chart it was clearly a resistance at 615 levels ( marked blue ) , now their is a gap lets see if it feel's up the 500 levels, !!!!!
Key Levels for AUROBINDO PHARMA Search >>> OPTIONSCALLFREE on Telegram for more updates
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If price sustains above range of 594 - 579 one can look for buying scenarios for intraday.
- please do your own research before taking a trade, posted only as a personal view -
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Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...
IF I USE NORMAL CANDLE STOCK HAS STRETCHED A LITTLE ABOVE .786 LEVEL BUT I USED HEIKIN ASHI CANDLE NOW PICTURE IS CLEAR STOCK HAS CLEARLY CLOSED BELOW .786 HARMONIC REVERSAL LEVELS AND ALSO STOCK CANNOT STAY OUT OF CHANNEL FOR LONG SO IT WILL SOON ENTER THE CHANNEL ACCORDING TO ME FIRST LET 585 BE BROKEN CLOSING BASIS IT IS TEMPORARY SUPPORT
NOTE: USE 30 MINUTE...
The stock has closed below and important pivot zone. The next support levels are close to 490 zones, below it the stock may resume trend down again and test 435 – 350 levels. To reclaim bullish structure it has to close above 580levels. The RSI is into bullish zone MACD is displaying positive momentum, any dips to support may be an interesting place to create...