#LETSTALKABOUTMARKETS- AUROBINDO PHARMA
Auropharma may still gain a bit but it will not be outperforming anymore, adding to that i feel it might under-perform as well. The basis for this are the technical indicators:
1. RSI divergence - RSI divergence is when the price slopes upwards but RSI slopes downwards, forming a negative divergence. As seen in the chart, price is moving upwards whilst RSI is sloping downwards which indicates that the upward price movement will not last for long.
2. MACD - Moving average convergence divergence as it is called, has also showed a crossover which further confirms the weakness in the stock price movement.
3. Bollinger Bands - BB also seem to be squeezing out which shows low volatility. One can wait out to see the price movement, where the Bollinger Band seems to be expanding.
The upward price movement might fade out soon and might even move sideways before cracking down. One can take a position by keeping a stoploss around 715 and wait for the target of 600 and an extended target of 560.
*This is my opinion and i am not registered with sebi*
1. RSI divergence - RSI divergence is when the price slopes upwards but RSI slopes downwards, forming a negative divergence. As seen in the chart, price is moving upwards whilst RSI is sloping downwards which indicates that the upward price movement will not last for long.
2. MACD - Moving average convergence divergence as it is called, has also showed a crossover which further confirms the weakness in the stock price movement.
3. Bollinger Bands - BB also seem to be squeezing out which shows low volatility. One can wait out to see the price movement, where the Bollinger Band seems to be expanding.
The upward price movement might fade out soon and might even move sideways before cracking down. One can take a position by keeping a stoploss around 715 and wait for the target of 600 and an extended target of 560.
*This is my opinion and i am not registered with sebi*
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