Head & Shoulders pattern forming on 2H Chart of AUROPHARMA. SELL 850, SL 890.1, Target(s) - 820, 800. Measurement = 112. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
Looking very bullish, stock as well as pharma sector.
Keylevels are 842. Targetting 710
Key levels to watch for 842 and 968 Targetting 710 , if breaks below 842 on weekly timeframe.
The above are only for educational purpose only not to recommend buy or sell so im not responsible for any profit or loss...
ABC correction is ready for AUROPHARMA and Parallel Channel has penetraction at 5th wave. The 800-700 Levels are possible short for this stock. Kinnari + Elliott's wave theory 5 + 3 = Waves Do you remembers my last research on AUROPHARMA with ELLIOTT WAVE?
Range contraction seen in 15 min time frame price. Expecting to see some volatility expansion.
Do you own analysis before taking any trade. It's just my predictions and for educational purpose only.
Refer to the chart
Auro pharma(Equity) levels...25/08/2020 (1hr Candle)
Reasons for going short and setup: 1) About to break from Head & Shoulders pattern. 2) Trading below 100 and 50 EMAs 3) Selling pressure seen as it is near around all time high. Setup: Entry: After breakdown from neckline with good volume. Ideal entry below 850.50. Stop Loss: Can keep at 856.00; slightly above the support zone. Target: First target near 840.00...
a. Zone: Strong Bull b. Resistance 1: 886.90 c. Resistance 2: 894.15(Double Top Bearish Pattern) d. Support 1: 868.80 e. Support 2: 854.30(Double Bottom Bullish Pattern) NSE:AUROPHARMA
After giving breakout, it has come to its earlier resistance and taking support. Good for positional & intraday.
as long as 850 is not breached on down side can expect the stock to move towards 890/900
Auropharma breakout can be seen for 870 near levels