In daily scale, Aurobindo Pharma has given a breakout from its flag pattern above Rs 770-772 levels on Monday with higher volumes.
In the daily scale, Relative strength index (RSI) showing sideways to positive momentum and (+) DI trading above (-) DI whereas Stochastic %K continuously trading above %D, which indicates limited downside for the stock.
Based on the above observations, traders can buy the stock around current levels and add on dips around Rs 750-755 with a stop loss below Rs 720 (closing) for the target of Rs 850.
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