AUROPHARMA : is making ascending triangle pattern with lower highs and higher lows which means it can give breakout in any direction with. On lower side 1160 is the immediate support and on upper side LTH (1145) is the resistance.
For long term view please refer below link :-
For long term view please refer below link :-
Nota
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.Nota
AUROPHARMA respected the triangle lines on both the sides, it touched 1206 (lower trendline) and reversed till 1226 (upper trendline) a run of 20 points within morning sessionNota
After breaking the triable pattern today it made a high near the trendline 1210 and went down till 1162, a super move for intraday tradeNota
As per Elliot wave theory wave 1,2,3 seems to be completed at 1292, wave 3 correction phase must be running now and whatever low is formed in the form of zig zag pattern abc from low of wave c the target will less than length of wave 3 that is 457 points (1292-835).So it is time to accumulate on dips and then wait for script to cross 1292. As it is year long target so patience is needed and stop loss must be placed at appropriate points.
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Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.