Go short on Aurobindo Pharma with a stop at 116.50: Mitesh Thacker, miteshthacker.com
That is the one stock which can be shorted with a stop at about 116.50.
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| Updated: In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on Aurobindo Pharma.
ET Now: What is your approach towards some of the pharmaceutical names like Aurobindo Pharma?
Mitesh Thacker: I am not very keen to trade except for Aurobindo Pharma which is now looking slightly weak. And here 102, which was the recent low in mid-May could be retested or even broken on the downside. That is the one stock which can be shorted with a stop at about 116.50. Cipla has hardly been doing anything and Dr. Reddy's has completed a pullback after correction. So not much happening over there.
ET Now: What is your approach towards some of the pharmaceutical names like Aurobindo Pharma?
Mitesh Thacker: I am not very keen to trade except for Aurobindo Pharma which is now looking slightly weak. And here 102, which was the recent low in mid-May could be retested or even broken on the downside. That is the one stock which can be shorted with a stop at about 116.50. Cipla has hardly been doing anything and Dr. Reddy's has completed a pullback after correction. So not much happening over there.
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