AUROPHARMA trade ideas
Aurobindo Pharma India Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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Reversal in AUROPHARMAAfter the deep down and hitting it's Low at 595 point and taking support from there can help in Reversal of Stock.
Disclaimer:
I am not SEBI registered analyst
My studies are Educational purpose only don't trade on the basis of them.
Consult with your Financial advisor before trading or investing.
NSE: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.
AUROBINDO PHARMA - AUROPHARMA(NSE) | RISING WEDGEAurobindo Pharma - AUROPHARMA(NSE) has been forming a Rising Wedge pattern since the mid of November. A long red candle breaking the wedge support line(red line) could be a good shorting selling opportunity, keeping the target as 675. The dashed green line, 714 had acted as a strong resistance, and the price had fallen till a support range of 675(dashed red line), twice in the past, as indicated by the curved, yellow, downward arrows. In addition to that, the dashed blue line denoting a price range of 706 had acted as a good support, thrice in the past. Hence, a bounce back from there can be considered as a good buying opportunity too. In this case, the price can swing till the upper boundary(green line) of the Rising Wedge.
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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