Aurobindo Pharma Ltd SELL POSITION CALL

 

ALL TARGET DONE IT  MAKE LOW  1132 27/3/2025 

Aurobindo Pharma Ltd  SELL 1193 TGT 1155/1137 /1090 SL 1230

Technical Analysis of Aurobindo Pharma Ltd (30-Min Chart)

1. Support and Resistance Levels:

• Resistance Levels (Upside Targets):

  • 1,230.70: A strong resistance level where the price reversed earlier.

  • 1,193.50: Another resistance zone before reaching 1,230.70.

• Support Levels (Downside Targets & Stop Loss Consideration):

  • 1,155.00: The immediate support level (currently testing this).

  • 1,137.30: Next key support level below 1,155.00.

  • 1,090.00: A major support level indicating a stronger downside if broken.

2. Trend & Technical Indicators:

• Price Action:

  • The stock was in an uptrend but has now started correcting.

  • The price is testing the 1,155.00 support zone.

• Relative Strength Index (RSI):

  • RSI is below 40, indicating weak momentum (bearish sentiment).

  • "Bear" signals confirm selling pressure.

• Volume:

  • Increased selling volume, indicating strong bearish control.

3. Trading Strategy (Target & Stop Loss):

• For Long (Buy) Entry:

  • Entry: Near 1,155.00 support if the price shows reversal signs (bullish candles, RSI bounce).

  • Target:

    • 1st Target: 1,193.50 (Resistance)

    • 2nd Target: 1,230.70 (Major resistance)

  • Stop Loss: Below 1,137.30 (If broken, downside risk increases)

• For Short (Sell) Entry:

  • Entry: If the price breaks 1,155.00 support and retests it.

  • Target:

    • 1st Target: 1,137.30

    • 2nd Target: 1,090.00

  • Stop Loss: Above 1,175.00 (to avoid fake breakdown traps)

Conclusion:

• If 1,155.00 holds, a bounce-back toward 1,193.50 is likely.

• If 1,155.00 breaks with volume, further downside toward 1,137.30 and 1,090.00 is possible.

• RSI and volume indicate bearish momentum, so caution is advised before taking a long position.