AuroPharma Auro Pharma CMP 517.7
This is a Weekly chart ...
we can see fall from 1056 levels to 495
A morning star developed at 495 levels...
Also we can see double bottom pattern in there...
though price is below 540 but this pattern is still valid till 495...
as long as we are above 505 , there is high probability price to move up ...
I am expecting price to move up towards 720levels over the time...
my sl would be 495 on touch basis ...
Vedang :)
Chart is for study purpose only!!
AUROPHARMA
Aurobindo Pharma looking StrongAurobindo Pharma CMP 700 is a long term investment idea. Mutual Funds and FIIs are increasing the hold in this counter in the last quarter. Another positive about the counter is that promoters are decreasing their pledge in this low debt company. After making an all-time high of 1064 last year the stock corrected and seems to have made a bottom near 590 levels. Immediate targets for Auro Pharma will be 742 and 798. A stop loss should be maintained at a closing below 590 levels.
AUROBINDO PHARMA - Price Action Analysis Considering last week candle, NSE:AUROPHARMA has already given confirmation of further sign of selling .
Price has created harmonic Shark pattern with PRZ level 0.886 and 1.13 with price 651.70 and 548.75 respectively.
As we have witnessed of bounce from 0.886 level but not sustained above 200 MA.
Two things are possible here :
1. It again takes confirmation support nearest to 0.886 level and shows bullish reversal candle
with high volume.
2. Or can see further sell off up to 1.13% level at price 548.75.
BUY: if price sustains above both PRZ level can gives further upside opportunity.
SELL : below 650 price, you can sell if its break or you can do every rise sell with strict SL.
AUROPHARMA Bounced off Demand zone. Go Long accordinglyHello Guys the Market have been Quite a good ride in the previous week and it was fun.
Last target of 10% in MAXHEALTH was hit in one day.
Now Auropharma was in a downtrend/correction phase for some time and now has reached a strong Demand Zone(Daily, Weekly, Monthly) and took a good >10% bounced of it and is making HH & HL in smaller timeframes. Now consolidating in a channel which is a bullish channel and I expect big upmove after the break of channel.
RSI has room for Bulls.
MACD is retreating from bearish side and now going towards bullish.
Demand zone bounce has already been confirmed.
BUY ABOVE - 687
Targets mentioned in the chart.
Manage your positions, Risk reward is good.
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Aurobindo Pharma Medium Term Reversal TradeThe stock has reached lower trend line and looks to take support and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby & 200 EMA .
Risk Reward Ratio - 1:1
SL is placed below multiple major support zones and target is place near swing and channel high.
Earnings will be disclosed during the trade duration. If not good or the trendline and 200 ema are broken after results, it may be a better option to exit.
Note: As the market is under selling pressure, enter only after confirming a reversal.