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
