Aurobindo Pharma: Chart set up and trading strategy

Observations

- Line of Support at 680

- 20 day EMA and 50 day EMA around 668 and 664 respectively

- 200 day EMA around 728

Momentum may come once the stock gives a close above 728 - 740 zone

20 day and 50 EMA might provide Support

Trading strategy:
Given the set up, one may consider

Selling Aurobindo Pharma 28 April expiry 680 Put option currently around 26

The strategy has a 12% yield potential and provides protection against loss for a fall up to 654 till 28 April 2022.

Take care & safe trading...!!!

Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be