Hi friends
Aurobindo pharma clearly broke the head and shoulders pattern.
You can short on retesting of the neck line with stoploss above the right shoulder.
Blue line is target.
Your humble trader
KIRAN
Aurobindo Pharma Limited : Pharmaceutical Manufacturing Company ( NSE:AUROPHARMA ) is Making Symmetrical Triangle Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle...
****Disclaimer****
Trade with risk management but don't get afraid of taking risks because the winner is who BETS as well as never gets out of CHIPS...!!
Pharma stocks have been corrected from their highs.
Auropharma has given a breakout from the trend line with high volume.
Macd is also giving a signal for reversal.
Buy @ 821-825
Target I - 887
Target II - 961
DISCLAIMER:There is no guarantee of profits or no exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while investing/Trading decisions.
Past performance is not an indicator of future returns. Investment is subject to market risks.
Seek help of your financial...
Price after breaking the pattern reached the resistance levels in a days trades. As discussed before always buy at support to avoid the pressure after taking the breakout trade. :) !!
850 should be the resistance level for this breakout and if breaks this levels it should reach 880 and more in the coming sessions.
AUROBINDO PHARMA: Reversed from PRZ /From Major Support around 770. It has also given a DOJI in last session. Go long above 810- INTRADAY/POSITIONAL
SIMPLE - NO NONSENSE!
