AUROPHARMA
Auropharma - Short below 765!Thanks for coming to this update.
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Auropharma has tested the support zone of 780-765 multiple times now. With each test, support becomes weaker.
If it breaks below this point, it can show downside momentum and that can be a good short opportunity for both intraday and swing traders.
Short on the break of 765 with volume confirmation!
Also, during these market conditions, beware that Nifty can bounce at any time since it had a good fall in the past few days.
Thus, have a proper SL and trade with small quantity.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“The hard, cold reality of trading is that every trade has an uncertain outcome.” - Mark Douglas
AUROPHARMA long caseHello friends,
Defensive is the word you hear a lot in the market corrections.
Such one defensive stock is Aurobindo pharma.
It gave very good run up from march. Now it is consolidating.
Any brake above the black down trend line give the upside.
Let see how it plays.
Your humble trader
Kiran
Aurobindo PharmaStock is in clear uptrend but was in consolidation phase Currently the stock is at 808 looking to break this consolidation phase stop loss should be 754 our target price of the stock is 879 and then 894, RS is at 0.5 level which is suggesting a strength in the stock, as well on monthly chart the stock is showing a breakout of the Flag Pattern after a long time. it can give big move to the stock.
Aurora Cannabis $ACB is getting ready for Moon MissionWell, cannabis stocks went through very rough couple years. They all were in accumulation mode for good part of 2019 and entire 2020. Accumulation is done and ready for take-off. Here is why:
- Few month ago we made new Higher High with possible Higher Low as of now.
- The reasoning behind Higher Low is a consolidation in the area of Fib levels 0.705 and 0.618.
- Price breaking out (or at least trying) from the classic BULLISH Pennant.
- Price extracted liquidity from fairly matured Order Block originated in 2016 Price Action with super High Volume.
- The volume even higher than previous bullish runs of 2017-2018.
- Other canna stocks are breaking out as well for confirmation. Looks like entire industry is ready for the move.
Invalidation:
- Price action breaks below HTF Liquidity Support and deeps lower.
- New Lower Low established.
Note:
- There is one area of concern (gap in price) right around Volume Area Low and HTF support. Price may deep into that area for quick grab to close that gap, but this area can be treated as part of bullish "Reversal Island" setup and may be avoided altogether.
As always this is not financial advise.
Aurobindo Pharma - Facing resistance from 52 week high - Level#AUROPHARMA is treading near to 52-week high zone and since two treading session is closing in red near to 840 level. Level 846 is a strong resistance for stock.Stock is close crossing above Upper bolinger band from above.
Showing Mix result in Technical Parameter:
CCI iin overbought zone but treading down
MACD is treading UP above 0
RSI is near and parallel to overbought zone
Stoch iin overbought zone
MFI is treading down
ATR is touching bottom
New Short position
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Support : 800 and 780
Breakdown : 826
LTP : 836.55
Breakout : 846
Short Target : 860 and 880
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Positive & Negative Point:
1) Very bullish in Daily/Weekly/monthly chart
2) NR7 and Doji candle
3) Close within 52-week high
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(Disclaimer: This is only for educational purpose and paper treading.)
AUROPHARMA - At Multiyear ResistanceAUROPHARMA - At Multiyear Resistance
790-820 is the crucial resistance for the stock.
Structure of the stock is still positive , hence wait for further price action to unfold, because resisting these levels can trigger a selling in the stock and also on the flip side break above these levels, can initiate fresh buying in the stock.
My keeping this stock on my radar.
GBPAUD short first, then could be a buyYour own demo scammer demo forex guru is back to steal money from ya!!
About me:- This is your own scammer demo trader who lived in the stone age era & gained immortality by slaying a Ninja Dragon & his unicorn friend about 2.6 million years ago, then the ninja dragon's master challenged me to fight him for his time travelling rainbow coloured shining sword & his rented Ferrari, of course after beating him as well I used his travelling sword along with rented ferrari came down here in the modern age of 2020, sold his ferrari and managed to gather some money for this trading.
Disclaimer:- Don't Listen to me, I'm not a financial advisor