Aurobindo Pharma may turn to Bearish. Look for short after conformation of strong Red Candle.
1. Chart and candle pattern - Ascending triangle and Doji formation
2. 930 is the major resistance
3. Trend - Stock is in Bullish trend with great volumes, But a Doji at resistance is formed.
4. RSI is showing Bearish divergence - As the prices are going higher high and RSI is making Lower High. Also prices taking support around 50.
5. Moving average - Above 50 SMA.
Note: If price closes above 930 and volume raises it can be considered in Bullish trend. if a strong red candle appears the we can look for short
Only for educational purpose. Everyone share your thoughts in comments.
1. Chart and candle pattern - Ascending triangle and Doji formation
2. 930 is the major resistance
3. Trend - Stock is in Bullish trend with great volumes, But a Doji at resistance is formed.
4. RSI is showing Bearish divergence - As the prices are going higher high and RSI is making Lower High. Also prices taking support around 50.
5. Moving average - Above 50 SMA.
Note: If price closes above 930 and volume raises it can be considered in Bullish trend. if a strong red candle appears the we can look for short
Only for educational purpose. Everyone share your thoughts in comments.