AUROPHARMA trade ideas
AUROBINO PHARMA LONG TERM SWING TRADE!Hi everyone, Aurobindo pharma long term swing trade consider buying between 686-660 target 870 stoploss 645.
LOGIC BEHIND TRADE : Stock is trading on it`s weekly support & support identified from harmonic half bat pattern level 5.0 good oppourtinity to buy on support & stoploss only 15 points reward 3.23 & target identified from harmonic xabcd pattern level 0.786. NSE:AUROPHARMA
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.
auropharma weekly chart analysisfrom the chart it is clear that stock is reacting to the drawn lines, it is indicating that stock is in clear downtrend and trusted buying could be done only at the purple line which is lying around 645-650.
right now price is at 30 month high + 30 month low /2 and also 60 month high + 60 month low /2 , both of them are lying at 676.38 eventually, making the price at here a strong support.
fresh investment can be done here with 30 percent capital with a stoploss of 7 points here which should be 669 weekly close , target 710 and 764 using trailing stoploss and strict discipline, but if price can be available at the purple line , then it might prove a sound investment.
however it should be remembered that in the past it have always touched the purple line after breaking the green line. In that scenario a short can be initiated for target 650 and stoploss should be 696
happy trading
AUROPHARMA Daily Bullish Alt Bat
VERTICAL DOTTED LINES is Ultra high volume down bar Higher volume-Professionals are buying into the public selling
Withiin 3-5 price bars PATTERN need to be get confirmed from a BULLISH CANDLE
SET UP BECOMES VALID ONLY when RSI is over 30 & Price on breaking of ULTRA HIGH VOLUME Candle HIGH with NO SUPPLY i.e place for BUY