AUROPHARMA trade ideas
AUROBINDO PHARMA FOR INTRADAY 02 FEB analysis of aurobindo pharma for intraday on 02 feb 2022.
on daily timeframe it is making double bottom
and lower timeframe it has broken its downward trendline
we are expecting a long view on breakout of reisitance
Aurobindo Pharma NSE:AUROPHARMA Auropharma after a prolong down move is showing first confirmed signs of life. Breaking a key resistance level with good bar and volume . Price Action hinting at a possibility of further up-move continuation from here
CMP- 700.05
Targets - 750
Aurobindo Pharma structureAuropharma after a prolong downmove is sshowing first confirmed signs of life. Breaking a key resistance level with good bar and volume. Price Action hinting at a possibility of further upmove continuation from here.
AUROPHARMA [IH&S] Inverse head and shoulders pattern
ENTRY AND TRAGET R OPENS
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AUROPHARMA NSE:AUROPHARMA
cheakout these stocks too for februry 14.
and happy valentines day to all of you.
2nd attempt by Aurobindo Pharma to breakoutThe stock is in downtrend from long time, now it has formed an inverted flag with downtrend channel on daily and weekly charts. It looks like in today's close it has attempted the breakout above the channel for the second time.
Last time it tried to break the channel but, was fake breakout. But, today's breakout is convicted as the volume is enormous compared to last 30-50 volume candles. If this break out sustains, one can see 800-850 in short term.
Moreover the stock on 1 hour charts has an inverted head and shoulders with shoulder depth at 675and neckline at 700, the target is 750. Though previous high was around 738 which will act as hurdle.
Happy Trading and Investing
AuroPharma: Resistance turns to SupportAuroPharma has pulled back to a level which was previously a resistance zone near 600. This zone may act as a support now because of a basic principle of support and resistance.
"A resistance once broken on the upside may turn into a support later on. Conversely, a support once broken down may act as resistance later on".
The level 600 coincides with the 61.8% retracement level as visible on the chart. So that is another plus point.
It could be a medium to long term buy with SL below 590 for targets of 797 and then 877. Stop can be trailed higher to 643 if the trend resumes on the upside.
It could also be taken as short term buy with SL below 643 for a target of 730
Disclaimer:
Not Sebi registered
No personal investment in the stock
Auropharma on Harmonic PattternMain direction bearish on weekly chart.. temp bulish.. in short time frame its bearish.
For short entry 680-85 is good level to short for target of 633-30
For long 633-623 buying zone.. which can go up to 715-25 zone which is mentioned in chart
I do not recommend to trade this is just my view.
Intraday For 31st JanMy view is bearish on this stock. But still can go long for intraday if candles closes above on specified levels
Go for short below 620
Go for long above 638
Sell below 603 TGT 591 SL 619Suggestions are based on my analysis only. Please do your analysis before taking any trade.
Auropharma short for target of 400Auropharma looks week in chart and trading in a channel.
Target 400 downside from there a bounce or reversal can be expected.
till then sell on rise.
AUROPHARMA- Standing at crucial levelRetracement of fibo + retest of trendline breakout.
Buy around 660-666, keeping SL @640 on closing basis.
*Note -Only for educational purpose.
Long Aurobindo Pharma...High Probability SetupAurobindo Pharma
Cmp - 737
Stop - 700
Expectation -
T1 - 830
T2 - 950, Review at 950
Expected Holding Period - 3 months or earlier for T1, 5 months or earlier for T2
View:- Swing/Investment
AUROPHARMAAuropharma reversing from the exact 61.8 and 50% fib levels. Good to go for long at this point.
CMP :- 734
SL :- 620
Target :- 1030+
R:R :- 1:2.8
Disclaimer :- This is just my view. Please analyse charts yourself and then decide to initiate trades.
Aurobindo Pharma: Chart set up & important levelsObservations
- the stock has given a breakout in the short term on December 8, 2021
- the stock has given a breakout in the medium term on December 22, 2021
- 20 day EMA cross over above 50 day EMA on Dec 29, 2021
Is Aurobindo finally recovering from the illness (that took it down from 1063 odd levels to 620 odd levels) and roaring to get back???
A final push above 736 could be the key to unlock its movement on the upside
780 is 200 day EMA
Long term Trendline resistance around 824 currently. Sustaining Above that, gates would open up further upside towards 905-940 odd levels
Do note: The stock has tested our patience a lot in the last 3 months and there could be personal bias in here.
Take care & safe trading...!!!
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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
