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Auropharma has tested the support zone of 780-765 multiple times now. With each test, support becomes weaker.
If it breaks below this point, it can show downside momentum and that can be a good short opportunity for both intraday and swing traders.
Short on the break of 765 with volume confirmation!
Also, during these market conditions, beware that Nifty can bounce at any time since it had a good fall in the past few days.
Thus, have a proper SL and trade with small quantity.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“The hard, cold reality of trading is that every trade has an uncertain outcome.” - Mark Douglas
Before you start reading kindly hit that like button. It motivates me to keep doing such work for free.
Thanks
Auropharma has tested the support zone of 780-765 multiple times now. With each test, support becomes weaker.
If it breaks below this point, it can show downside momentum and that can be a good short opportunity for both intraday and swing traders.
Short on the break of 765 with volume confirmation!
Also, during these market conditions, beware that Nifty can bounce at any time since it had a good fall in the past few days.
Thus, have a proper SL and trade with small quantity.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“The hard, cold reality of trading is that every trade has an uncertain outcome.” - Mark Douglas
As expected, a good move happened on the break of support zone.