Most bank stocks were trading in the red yesterday except for IndusInd Bank. The daily chart shows the stock has pulled back to the top of prior advances and reversed that reaction with a bullish candle yesterday. Follow through price action upward would create more gains towards Rs 625-30 levels today and ahead.
In the revival seen among pharma counters in yesterday’s session, a stock that could bound up further is Auro Pharma. The 30-minute chart attached shows the formation of a small rounding pattern at the end of a multi day corrective move. This is now being accompanied by a sharp drive in the RSI and this suggests further gains are likely. One can buy for a run towards Rs 830-40 in the near term.
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