AURO - Bottom done? Long

AUROBINDO PHARMANSE

Description

⋅ Jul 12, 2019 6:48 PM

Since the start of May, this stock has corrected almost 30% and made a low of 576. For the first time since the fall, it has ended above the open price on weekly chart. We may see reversal from here on. Overall Pharma space is entering into a bullish zone. Expect stock to go to 630/660/700 with a tight SL of 575. Below 575 we may see 500/530 levels.

Comment

⋅ Jul 15, 2019 8:56 AM

Exit it closes below 575

Comment

⋅ Jul 15, 2019 9:18 AM

Exit if it closes below 575

Trade closed: stop reached

⋅ Jul 17, 2019 4:38 PM

SL done

Chart Patterns

Comments

VikramDivekar

⋅ Jul 13, 2019 11:12 PM

I think, Currently, it is into FLAG. If stock close above 630 then definitely it will reach ~660.

Manav2805

⋅ Jul 14, 2019 3:26 AM

@VikramDivekar, Yes, let's see how it develops in coming days.

WaveTalks

⋅ Jul 13, 2019 12:32 AM

Try putting your inputs using RSI/ Bollinger Bands as simply displaying chart has no relevance because this is your starting phase.

Manav2805

⋅ Jul 13, 2019 3:03 PM

@AbhishekHSinghCMT, sure, will do in my next idea.