Aurobindo Pharma: Bullish Setup

16 mar 2023

AUROPHARMA has quite a few interesting setup traits:

• In the volume profile one can see the two PoC (Point of Control) - one during downtrend - another during uptrend - placed at 444 and 474 level.
  
• The PoC at 474 is really interesting. Means the interest is at the sustained levels of price.
  
• Absolute high volume
  
• Uptick in Momentum (RSI).
  
• Price Structure - was creating LH-LL. Then last one month (since 1st week of Feb) it actually pulled up and able to deny the structure by making a High higher than previous lower-high. That denotes the end of corrective phase.
  
• And then price is actually inside a Darvas box since last two weeks.
  
• Today it seems getting out of the Darvas box with volume and momentum.
  
• See the two AVWAP placements :) The upper line avwap line it will touch as T1.
  

Please keep the SL at downtrend PoC at 445.