Short on Daily Time Frame on 11.10.2022
Reverse flag on 1 hourly Time frame
Reverse Flag Details
Pole Start (06.10.2022; 10.15AM)
Pole End (12.10.2022;10.15AM)
Pole target matches with 1:1 Risk reward strategy on daily time frame on 11.10.2022
After trend line analysis and Bollinger band strategy the Risk Reward COMES TO 1 : 4.5
AuroPharma has already given a breakout in the weekly pattern. Now it's showing a breakout in the channel pattern in the daily timeframe. The current situation is that it will move slightly down and enter into a buying zone, from which it has a high probability of bouncing back.
AUROPHARMA which broke out the wedge pattern flew up till 998 and then decided for pattern's retest. The retest was successful and recorded a sharp reversal. One can use this opportunity and go long with a SL of 941 and below. The longer target for this breakout is at 1090 ranges. Getting some quantities of AUROPHARMA in cash market is also a considerable investment.