|Buy Range||729 – 736|
|Target||780 – 800|
|Duration||20 – 25 Trading Sessions|
|Potential Return^||6 – 9%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|736.1||BUY||729 – 736||780 – 800||700||20 – 25 Trading Sessions||6 – 9%|
# CMP on Mar 05, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 758.
^ The returns are calculated based on CMP#
Incorporated in 26th December 1986, this generic drug manufacturing company is developing, manufacturing and marketing 7 major product areas encompassing Antibiotics, Anti-Retro Virals, CVS, CNS, Gastroenterological, Anti-Allergics and Anti-Diabetics. The vast majority of the company’s sales are generated in India, followed by the United States and globally in over 150 countries. In Q3FY19, the company has reported Profit After Tax at Rs 712 crore vs Rs 595 crore YOY. The consolidated revenue rose at Rs 5270 crore as against 4336 crore the year-ago period.
|Sectoral Index||Nifty Pharma|
TECHNICAL OBSERVATIONS (WEEKLY)
- Attached weekly timeframe chart of Aurobindo Pharma Ltd is signalling that the stock price was moving in a larger consolidation pattern in the last many months.
- Currently, the price is near Lower bound of the consolidation range. Historical evidence suggests robust upside movement from here.
TECHNICAL OBSERVATIONS (DAILY)
- Daily Price has given breakout from the downward sloping channel as shown in the picture.
- The stochastic oscillator is deep in an oversold indicating bounce from current levels.