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Auro pharma

Discussion in 'Technical Analysis' started by drsuraimardi, Sep 26, 2012.

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  1. drsuraimardi

    drsuraimardi New Member

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    Dear Shabbir
    Auro pharma has formed a W pattern in wkly chart and trying to breakout above 142.Is auropharma a good buy above 142 for a target of 184 ? Your opinion matters.
     

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    drsuraimardi, Sep 26, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    Yes looks good above 140 but support is around 100 which should be your stop and so if you are comfortable with 40 Rs as stop loss, it looks good.

    I have few issues with this stock like a slide from 270 to 80 and so that is a huge fall. On top of that 160 could act as resistance because it had support in the fall from 270 to 80 around that level.
     
    shabbir, Sep 26, 2012
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  3. drsuraimardi

    drsuraimardi New Member

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    Thanks Shabbir ! I feel surprised when I see this pharma stock like this .Because I have personally used the antibiotics of this company ...they are excellent !
     
    drsuraimardi, Sep 26, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    Price and volume speaks for itself. See the red candle that lead to long down slide and it has few times the volume and that means someone offloaded the stock but there were no takers for such large orders and this means something was not right that the offloading party knew.
     
    shabbir, Sep 26, 2012
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