The Pharma index CNXPHARMA seems to have resumed its uptrend today after consolidating for about a month.
After a pullback from 636 to 566 levels, looks like Aurobindo Pharma AUROPHARMA is all set to start the next cycle of uptrend.
I can see that the stock has reversed after retracing 61.8% of the previous upmove and formed a Bullish Engulfing candle today.
Good opportunity to go long here for a target of 610 and above with a stop loss of 565.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
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