Auropharma - Wave Talks 895 to 503 - Can it be 503 to 895+

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.

Handel aktiv:

09:55 Hrs 16th Oct2017

Last Price@756

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.

Handel aktiv:

10:11 Hrs 16th Oct2017

Last 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.

Handel aktiv:

10:41 Hrs 16th Oct2017

Last 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

Handel aktiv:

11:15 Hrs 16th Oct2017

Last Price@756

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.

Handel aktiv:

11:28 Hrs 16th Oct2017

Last 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.

Handel aktiv:

13:31 Hrs 16th Oct2017

Last 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.

Handel aktiv:

14:28 Hrs 16th Oct2017

Last Price@758.50

Jumps to session high of 761 - Intraday Buy as suggested earlier only above 765 else we some weakness.

Handel aktiv:

15:21 Hrs 16th Oct2017

Last Price@758

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.

Handel aktiv:

10:13 Hrs 17th Oct2017

Last Price@763

Holding 751-752 at bottom which was neckline -it pushed upside for 765 paid our 1st installment of the efforts taken yesterday.

Handel aktiv:

10:51 Hrs 17th Oct2017

Last 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.

Handel aktiv:

11:02 Hrs 17th Oct2017

Last Price@769

We shall be interested in auro next only if it moves above 775 & holds above that level.

Handel aktiv:

12:41 Hrs 17th Oct2017

Last price@761.50

Cracking - Right from the top@771-772 - where we booked profits & out from buy call.

Trade stängt manuellt:

12:30 Hrs 7th Nov2017

Thanks - Closing the update.