Technical Analysis of NH & AUROPHARMA

Technical Analysis of NH & AUROPHARMA

Stock name: Narayana Hrudayalaya Ltd.

Pattern: Head and shoulders pattern

Time frame: Daily

Observation:

Since its listing, the stock has consistently trended upwards. From November 2023 to May 2024, it stabilized, forming a head and shoulder pattern on the daily chart. On May 28, 2024, the stock broke out from this pattern with above-average trading volume and a negative MACD signal. Currently, the RSI is very low. According to technical analysis, if this momentum continues, the stock may decline further.

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

Stock name: Aurobindo Pharma Ltd.

Pattern: Cup and handle pattern and retest

Time frame: Weekly

Observation:

The stock has been moving sideways for a long time and formed a cup and handle pattern on its weekly chart. It broke out from this pattern in May 2024, supported by average trading volume and a positive MACD signal. However, the stock is now retesting the breakout level. Currently, the RSI is in a favourable zone. According to technical analysis, if the stock rebounds from the retest, it may move upward.

You may add this to your watch list 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.

 

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