Achin Goel
Aurobindo Pharma has been in a consolidation phase after a trend line breakout on the daily chart. In addition, the price has formed a green candle with the backing of decent volumes.
The momentum oscillator, RSI (14) has been in a bullish crossover and currently hovering strongly around 59.75. Moreover, MACD is in Buy mode.
Traders can accumulate the stock in the range of Rs 610-617 for the target of Rs 700 with a stop loss below Rs 584.
Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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