The price action is forming new highs and higher lows for a while that indicates buyers dominance which is taking up the prices higher. Now, I believe the prices shall reach to previous high at 888 or the resistance where sellers might enter into markets again and then the fight of dominance shall shuffle.
TargetL 888
Stoploss:836
Intraday as well -we should keep this stock on radar Likely above 814 has triggered an up-move. But as said we shall take any long opportunity only above 822.50 -b wave swing high or going below 805 should be problem for auro.
So, daily close above 814 shall be an important clue in Auropharma from a sense of the larger degree.
Trading Opportunity - Going above...
As per previous update- "b-d" trendline working like a magic wand- made a high 805 & a fall till recent low@766. It is also suggested that going 814 -we shall into bull camp.
Auropharma- Vow.. Shall get a hatrick if auropharma moves below 785 low & starts trading below that mark in that case we shall be bearish & look for a downside target in the form of c-wave in the larger e-wave of the 4th Wave Triangle.
Arrows show how we moved exactly in previous updates.
Regards,
Abhishek H. Singh, CMT
Moving Exactly in channel as shown in previous update- Auropharma had a good fall from 770-730 in last few sessions.
Let is fall further & Take Support of A-C Trendline & wait for price action to see the bounce- once confirmed -that will be green signal to go long or wait for the channel to be breached on upside- in that case hold to see whether recent low is...
I'm of the opinion that AUROBINDO will fall.
As long as it stays below 757 we could see 730 Levels..
SL= 777*****************************************************************8
