Auropharma - Wave Talks 895 to 503 - Can it be 503 to 895+
Atualizado
Wave Talks - If you can understand their hidden language. The most exciting journey which I had was in pharma stocks as I visualized the fall in Auro at 895 in Aug2016.
Market moves in 5 waves & corrects in 3 waves - which was classical act by Auropharma as per books. The fall was corrective from 895 to 503 & we squeezed early start in Wave- W from 895 highs as mentioned in below updates. X- Wave was complex & formed a triangle - we got the last leg within that triangle("e" leg ) from 648 to 675 & Out in time for the Y- Wave downside.
Y- Wave measured approx 61.8% of W- Wave & Travelled to 503 lows where it resumed it's uptrend.
What Next ?
Upside move from 503 was very sharp to 795- Post 795 it has been doing sideways with double bottom at 665 - so we know any move below 665 support can create problems for auro so till the time 665 is protected downside.
When to execute ?
Strategy 1- Plan to buy close to 665 levels which is double bottom in the zone 665-675 for targets 855- 950 - 1100+ Target - Shall come back to reassess later.
Strategy 2- Plan to buy above 775 - once it pokes above 775 just take care it does not return back inside 775 & also clears above 795- else be cautious.
Targets above 775-795 zone - 850-950 & 1100+
22nd Aug2016 Update - 5th Wave Terminal Thrust Above 814
Result of the update
Moved above 814 - Thrust confirmed & later pushed to 895 - Double Top - Time to book profits.
20th Oct2016 Update - Top@895 -is this the end - did you press panic button
Result of the update
Price Rejected in 890-900 Zone - Previous Wave 3 High was at 891- had sharp fall to 806 & bounced to 825 - Alarm raised - Did you press the panic button in time.
12th April2017 Update - Doji to give up leg & help forming the triangle
Result of the update
X- Wave Triangle (enjoyed "e" wave from 648 lows to 675 & closed the position -right in time before auro crashes)
13th May2017 Update- How can we forget - Bat's Curse in 620-630 zone - be careful - The final collapse
Result of the update
Failed in the zone 620-630 & the final collapse.
Market moves in 5 waves & corrects in 3 waves - which was classical act by Auropharma as per books. The fall was corrective from 895 to 503 & we squeezed early start in Wave- W from 895 highs as mentioned in below updates. X- Wave was complex & formed a triangle - we got the last leg within that triangle("e" leg ) from 648 to 675 & Out in time for the Y- Wave downside.
Y- Wave measured approx 61.8% of W- Wave & Travelled to 503 lows where it resumed it's uptrend.
What Next ?
Upside move from 503 was very sharp to 795- Post 795 it has been doing sideways with double bottom at 665 - so we know any move below 665 support can create problems for auro so till the time 665 is protected downside.
When to execute ?
Strategy 1- Plan to buy close to 665 levels which is double bottom in the zone 665-675 for targets 855- 950 - 1100+ Target - Shall come back to reassess later.
Strategy 2- Plan to buy above 775 - once it pokes above 775 just take care it does not return back inside 775 & also clears above 795- else be cautious.
Targets above 775-795 zone - 850-950 & 1100+
22nd Aug2016 Update - 5th Wave Terminal Thrust Above 814
Result of the update
Moved above 814 - Thrust confirmed & later pushed to 895 - Double Top - Time to book profits.
20th Oct2016 Update - Top@895 -is this the end - did you press panic button
Result of the update
Price Rejected in 890-900 Zone - Previous Wave 3 High was at 891- had sharp fall to 806 & bounced to 825 - Alarm raised - Did you press the panic button in time.
12th April2017 Update - Doji to give up leg & help forming the triangle
Result of the update
X- Wave Triangle (enjoyed "e" wave from 648 lows to 675 & closed the position -right in time before auro crashes)
13th May2017 Update- How can we forget - Bat's Curse in 620-630 zone - be careful - The final collapse
Result of the update
Failed in the zone 620-630 & the final collapse.
Trade ativo
09:55 Hrs 16th Oct2017Last Price756
We have a Kill Roy Pattern ( Inverse Head & Shoulder Pattern) - Edwards & Magee - Famous Bullish Pattern - Target can be Head bottom to Head High on upside.
Trade ativo
10:11 Hrs 16th Oct2017Last Price@759
Partial Profit to be booked intraday between 763-765 - if stops else moving above 765 & holding above can travel next to 775-780 zone.
Trade ativo
10:41 Hrs 16th Oct2017Last Price@759
Try to exit between 759-760 -Once we get a chance - Just missed upside 764 target by 2 points -Made recent high@762
Trade ativo
11:15 Hrs 16th Oct2017Last Price756
We are out from buy call in auro as markets (Nifty & Bank Nifty started correcting from its highs for the day).
That is the reason I gave 763-765 Target zone upside & look it turned down from 762 .
Going below 755 - If Nifty shows downside momentum then Auro also can slip along with markets.
Trade ativo
11:28 Hrs 16th Oct2017Last Price@757.50
Hope you remember " Strategy 1" - Plan to buy next in the dip of 665-675 or close to 665.
or
Intraday buy above 765 & daily wise (BTST) above 775.
Trade ativo
13:31 Hrs 16th Oct2017Last Price@756.50
Below 755 - It can slip to Neckline support@751-752 where it can rest next if holds then buy with stop loss below 750 once it recrosses above 757 for targets 764 & above 765 for 775 target.
Trade ativo
14:28 Hrs 16th Oct2017Last Price@758.50
Jumps to session high of 761 - Intraday Buy as suggested earlier only above 765 else we some weakness.
Trade ativo
15:21 Hrs 16th Oct2017Last Price758
Painful day for auro- sideways move between 762 to 756 - we tried best to squeez what we can get in this sideways move.
Next move will start upside above 762 as that was the resistance for the day & below 754-755 -if holds then downside is open for 741-743 next.
Take care.
Trade ativo
10:13 Hrs 17th Oct2017Last Price@763
Holding 751-752 at bottom which was neckline -it pushed upside for 765 paid our 1st installment of the efforts taken yesterday.
Trade ativo
10:51 Hrs 17th Oct2017Last Price@769
2nd Target level for yesterday's intraday call almost done half at 771 - We will stay out of Auropharma for a while now. Book profits.
Trade ativo
11:02 Hrs 17th Oct2017Last Price@769
We shall be interested in auro next only if it moves above 775 & holds above that level.
Trade ativo
12:41 Hrs 17th Oct2017Last price@761.50
Cracking - Right from the top@771-772 - where we booked profits & out from buy call.
Trade fechado manualmente
12:30 Hrs 7th Nov2017Thanks - Closing the update.
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
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Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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