Auropharma: – Aurobindo Pharma (NS:) stock price was up by 16.75 points or 2.36 % to 726.30 in yesterday’s trading session. The stock price was trading in a broader range of around 140 points since 6 Sep 2018 to till date. The trading range has support at 690 level and resistance placed at 830 level. In yesterday’s trading session, it was the fifth time the stock price bounced back from the support line after testing it.
On indicator front, RSI at 36.39 near the oversold zone. In addition to this, we have also witnessed some buying interest in the stock. The stock price if continuing to hold above the support line may test the upside of 770-830 in the short to medium time frame. Moneyites.com recommends buying the stock at 726.00 and accumulate more near 710 level with a stop loss of below 690 for the upside of 770-830 level.
Infy: – Infosys (NS:) stock price was up by 17 points or 2.37% to 733.10 in yesterday’s trading session. Since 15 Jan 2019, the stock is trading in the price range of 70 points from 703-773. The stock price while trading in a range has already completed the double top pattern, but it took support from the support line and now heading towards the resistance line.
The price action has formed two identical bullish wedge pattern whose upside target is the same as the resistance line of the trading range. On indicator front, RSI at 52 is showing strength in the trend and has more room for upside in the coming time. While volume remains constant in the counter.
Moneyites.com recommends buying the stock at the current price and accumulate more near 710-720 level with a stop loss of below 700 on closing basis for the upside of 770-800.
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