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Aurobindo Pharma Ltd

Sell Call @ CMP 418 , Target 350, Stop-Loss 440


Analysis :-  Aurobindo Pharma  was  making higher high with the trend line support in daily basis. Prices are rallying above the greed Band and making higher point at extreme level. In upcoming months we have very bearish view on Aurobindo Pharma , price making higher tops but as per current price pattern prices are overlapping the previous highs and RSI Indicator is showing negative diversion. Thus we feel its at the terminal level and showing continues distribution. Once the trend line is broken (403) we see sharp crack down up to 350 levels.  
  
 The stop for this trade would be 440 and target is 350 giving a decent risk reward at the current price of 418.


(28.01.2014)


Aurobindo Pharma Ltd (Daily Chart)



























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