Comments
Shares of Aurobindo Pharma Ltd has gained as much as 3.68 per cent to ₹ 824.8, highest since December 5, 2018
The stock has broken above a resistance at ₹ 810.92, the 38.2 percent Fibonacci projection level of the uptrend from June 4, 2018 low to Dec 4, 2018 high (wave 1)
The breakout suggests in a couple of days stock may test the next resistance at ₹ 846.73, the 50 percent projection level. The stock's wave pattern suggests it is in the third wave of a five-wave uptrend. Trend intensity (TI) indicator rises two points to 15, suggests stock is in early stages of a new uptrend. The MACD too is positive and above its signal line.
The stock up 8.54 per cent this year as of last close, compared with the broader NSE index's 7.17 percent gain.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.