July 29, 2016
Aurobindo Pharma (NSE Cash)
BUY
` 759
` 786 - 781
` 830
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 10:05 IST)
Justification:
During last week, the stock has given breakout from a falling trendline resistance on daily chart. Post
breakout, prices have been consolidating in a narrow range since last six trading sessions. The ‘SuperTrend’
indicator is in ‘Buy’ mode and the prices are trading above the ‘89EMA’ on daily chart. The ‘Parabolic SAR’
indicator is also positively placed. Considering the positive placement of the above mentioned indicators, we
are expecting the stock to resume its positive trend in near term. Thus, traders are advised to buy the stock
at current levels and on declines up to `781 for a target of `830 in next 14 - 21 sessions. The stop loss
for the trade set-up can be kept at `759.
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July 29, 2016
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Source: Angel Research
*Dividend of ` 12/share adjusted
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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