Auropharma - 710 haunts both the brothers- Dark Cloud Cover

2 apr 2017

Dark Cloud Cover

Black means red candle & white means green candle

The Dark Cloud Cover, in candlestick charting, is a pattern where a black candlestick follows a long white candlestick. It can be an indication of a future bearish trend.

Essentially, the large black candle is forming a "dark cloud" over the preceding bullish trend.

The dark cloud must have a closing price that is:
1) within the price range of the previous day, but
2) below the mid-point or 50% between open and closing prices of the previous day make the case stronger.

First at 730 & later at 710 - Dark Cloud Cover Candlestick pattern haunted traders. In near term only above 730 -it will be better sign that traders look to buy the stock else it can trouble.

Levels of 730 & 710 both are haunting Auropharma & Sunpharma.

Trading Strategy
Below 710 -we can see auropharma running close to 620-630 zone & below 620 -next support in the zone 580-590 as target zone.

You would love to read my previous update

Auropharma 2016 Diary - includes all the previous updates - you should click the charts nested in the analysis to read them.

8 apr 2017

Trade attivo

12:02 Hrs 8th April2017

Last Price@658

Puked to a new low655 & closed at 658.

10 apr 2017

Trade attivo

20:21 Hrs 10th April2017

Last Price655

Going below recent low of 652-653 -likely we get small move downside in 645-647 zone.
We shall be searching for upside move as well so be careful any push upside above 660 & sustaining above that level.

11 apr 2017

Trade attivo

11:02 Hrs 11th April2017

Last Price@658

Just Kissed 660 mark - playing in the area 653-657 & later moving above 660 convincingly can make Auro also stock for the day for short term push upside atleast till 680-685.
Moving above 710 can push Auro sharp upside or sellers can come back till 710 is intact on upside.

11 apr 2017

Trade attivo

19:25 Hrs 11th April2017

Closing Price655

Came in the desired zone of 653-655 -Let us see if we get push above 660 in next session.