Stock name: Auro Pharma

Pattern: Pole and Flag pattern breakout

Time frame: Daily

Observation:

The stock has been in a downtrend for the last 2 years and has corrected by ~60% during this time. However, recently the stock has started to pullback / reverse the trend and has formed a pole and flag pattern and has broken out of the same, that too with good volumes.

As per the said pattern, the stock should go till 540 levels.

You may add this to your watchlist to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

1) India Pesticides: Company has received Technical Equivalence certification in the EU for their newly commissioned herbicide technical product

2)  India asks State run banks to monitor top loan accounts

3) Lupin shares jump 5% on receiving US FDA approval for Valbenazine Capsules