Stock to track intraday- 15 May, 2020 - AUROPHARMA

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Dear Christite,

Here is the latest analysis about Indian stock market from Center for Research in Asset Markets and Economy (CRAME), Christ (Deemed to be University) Lavasa.


In the recent market carnage one of the safe spots have been the pharma sector. Names like Sunpharma, Auropharma etc. have made significant price gains in the last couple of months. Auropharma which moved from 297 in March  to 701 in  May made a whopping 236 percent price gain. Though the  short term chart structure is not compromised so far,  the stock has been witnessing some profit booking off late in the shorter time frame charts. In the shorter time frame chart, 673 - 683 can act as a strong resistance and any move towards that region can be used to build short positions with a stop above 688. The targets on the downside can be 656/647/638. However if the stock opens lower closer to the downside targets then the risk reward ratio may not be favorable for a short trade.

If the stock manages to breach the recent high decisively there is chance fof fresh up move for the stock.

DISCLAIMER

The content provided in CRAME blog is for educational purposes only. CRAME or the analyst(s) do(es) not assume any responsibility for the financial decisions/actions made on the basis of the analysis presented in the blog.

Analysts

Prof. Binu  P Paul PhD
Prof. Soumya V ACSI-

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