Auropharma- Magical Ladder 662 -684 -669 & Next Bullish Bat

Auropharma - 9th             Jan2018

Note - Time to move through watchlist stocks depends on lot of factors like internet speed & others. Ideally it takes 1-2 mins which can be extended as well but amazing feature to check the stocks in quick time.

Ladder - isn't this an amazing tool because we can use it to travel upside & same can be used to travel downside - what's a big deal in this, as everyone knows it but if we get such a ladder to move upside & travel downside safely in the market - that becomes a magical ladder.

A tool which is necessary but possesses an inherent level of injury risk even through basic use & this level of risk is even exacerbated with improper use.

Some of the ways how people get injured using a ladder ----

You aren't using a proper ladder or trying to reach too far from the ladder- extended ladders which can be dangerous. So, how can you reduce the level of risk is by having proper risk management.

As Analyst you could use Candlestick Patterns , Divergence, Indicators & others to have proper risk management.

Before we dip into current structure & pull up previous analysis. Let me just tell you some basics about TradingView platform - Watchlist - Can be used to check 50 stocks in 1- 2 mins - isn't that amazing & handy feature.

Hi All, Excited to come up with latest update on Auropharma             -Magical Ladder 662 to 684 & Back to 669 - Next Bullish Bat -Are you ready - So, let us begin!
Trade active: 09:27 Hrs 10th Jan2018

Good Morning!

Last Price@676.40

Session High@679 - Target 1 done as expected - Next buy above 680 levels for 689-690

Trade active: 10:50 Hrs 10th Jan2018

Last Price@674

Now drops below 679-680 - Suggested Next Buy Above 680 or let it fall -if holds trendline then we plan back for upside again.

Trade active: 11:04 Hrs 10th Jan2018

Last Price@672.50

No more buying as suggested earlier - "next buying only above 679- 680
Trade active: 12:45 Hrs 10th Jan2018

Last Price@672.50

Bouncing from 670-671 same zone where we entered for bullish bat so next weakness will be seen below 670 or it bounces from 67-671 to 678-680 & faces resistance.
If crosses 680 then opens for upside 688-690 zone else facing resistance in 678-680 can fall again to 670-665

Trade active: 14:00 Hrs 10th Jan2018

Last Price@672.45

One should always buy from best possible zone which is 670-671 for the day.

Hardly went down below 670- in 669-670 as suggested we are looking for a bounce for 678-680 & above 680 for 688-690

Trade active: 15:10 Hrs 10th Jan2018

Last Price@673.15

Till 669-670 is holding as support & no move below 669 - we have positive bias for 678 & above 680 - 685 & above 685 for 690.
Trade active: 10:08 Hrs 11th Jan2018

Last Price@672

Again it was flirting in the zone of 669-670 -made a new low@668.50 but hardly staying below 669 is suggesting for the minimum bounce upside to 678-680 zone.

Trade active: 11:25 Hrs 11th Jan2018

679 - Target done - getting resistance - any move above 679-680 is next set of buying.

Lot of struggle in 669-671 zone for 2 days but finally a good move for the day.

Trade active: 08:12 Hrs 12th Jan2018

Last Price@674.55

Auro made a low @672.45 after hitting the target of 679 - So, most likely holding 669 as updated last key /critical level we touch the final target 689-692 in coming session@12th Jan2018

We all know 689 is very important level if you have been following me as discussed in earlier post & videos.

Trade closed manually: 12:34 Hrs 12th Jan2018

Last Price@666

Closing the update

No way it had to fall below 669 likely we planned for safe buying above 679 only
or close to 669-671 zone
Comment: 12:38 Hrs 12th Jan2018

Last Price@667

Current low@665.30

Ok - Forgot to tell that 665-666 is also important zone & if this zone holds - current low@665.30 - It can bounce & bounce sharp upside for 679- 689 levels.
Comment: 12:54 Hrs 12th Jan2018

Last Price@669

That's why I said bounce & bounce from 665 to 669 - Awesome - Shall come up with new post Thanks.
Comment: 13:13 Hrs 12th Jan2018

Last Price@668

Strict Stop Loss below 665.50 & Nifty Below 10590 - if breaks Nifty moves for 10550 & Auro can slip more downside below 665 else bounce still expected for 675 - first 679 next above 679 -684 - 689.
Comment: 14:30 Hrs 12th Jan2018

Nifty Update - Last Price@10660

Wow! - It bounced hard & surprised the market - Jumps from 10597 to 10660 levels as suggested earlier at 13:13 Hrs -12th Jan2018

Auroharma Update - Last Price@669.45

Auro as well jumps from 665-666 as expected in the earlier update.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Nice analysis. Btw does anyone know why this stock has gone down from about 800 to 650 in last 2-3 months despite reporting very good results for QE Sep2017. There are no FDA notices , or company specific negative news.
Super analysis as always sir!!!! Cheers
@Niks99, Good Morning & Welcome!
.Until it closes above monthly pivot level, not good to buy.
@BeingTrader, Thanks for Pivot levels. Just Playing Intraday for 678- Above 680 for 688-690 if bounces holding 670 on downside.
Thanks Sir .. I'll be cautious as am holding sunpharma at 540 ...

@Hulk703, Cheer!
Abhishek Sir .. Natco ..Auto & Sunpharma .. Which one should we prefer
@Hulk703, Sunpharma is present in my profile. Unless 732 is crossed - I am not bullish long term but yes got 130-150 points bounce from 430-450 lows.
Hulk703 AbhishekHSinghCMT
@AbhishekHSinghCMT, Thanks Sir... Saved this chart

. Appreciate your detailed target levels

Thank You so much for help
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