Moneycontrol
Last Updated : Dec 05, 2018 11:03 AM IST | Source: Moneycontrol.com

Buy Aurobindo Pharma, target Rs 950: Aditya Agarwala

The stock may be bought in the range of Rs 820-825 for targets of Rs 900-950, keeping a stop loss below Rs 770, says Aditya Agarwala of YES Securities.

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Aditya Agarwala

On the weekly chart, Aurobindo Pharma has broken out from the neckline of an Ascending Triangle pattern triggering the start of a fresh bull run.

Further, a sustained trade above Rs 820 will extend the up move taking it higher towards levels of Rs 900-950. On the daily chart, it has broken out from the Cup & Handle pattern suggesting bullishness.

Moreover, RSI turned upwards after taking support at the 50-level suggesting higher levels in the coming trading sessions. The stock may be bought in the range of Rs 820-825 for targets of Rs 900-950, keeping a stop loss below Rs 770.
Disclaimer: The author Technical Analyst at YES Securities (I) Ltd. The views and investment tips expressed by investment expert 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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First Published on Dec 5, 2018 11:02 am
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