Pennant Breakout: AUROPHARMA

Bullish Pennant/Flag is a continuation pattern that if appears in a uptrend/downtrend indicates further continuation of that trend. Here, I have used the monthly chart of AUROBINDO PHARMA in which it gave a breakout after a major consolidation. Besides that its fundamentally strong and YOY revenue has been increasing. The whole Pharma sector gave a correction but a reversal is expected soon. While trading these patterns make sure you trade on retests right after a breakout.
Let's turn to FUNDAMENTALS now (Beyond Technical Analysis)

Mkt. CAP - 40,963 Cr.
PE- 7
OPM- 21%
ROIC=14%
Cash flow from operations- 3328 (increasing)
All the levels are mentioned in the chart. Happy Investing!

Komentarz:

This is a long term target. May take upto months. Stay Invested!