Can I enter Aurionpro for averaging at the current levels?
- Rajesh Kumar J
AVOID AURIONPRO SOLUTIONS FOR NOW, ENTER ON CLOSE ABOVE RS 166.60
Aurionpro is currently trading at Rs 153.95. Its 52-week high/low stand at Rs 252.88/Rs 135.55 made on January 4, 2018 and October 25, 2018, respectively. The stock gave a shooting star pattern, along with a swing high at its 52-week high level. Thereafter, the stock corrected forming a descending triangle pattern on the daily time frame. It attempted a breakout at Rs 211.50 level on August 3, which turned into a whipsaw. The stock gave a sharp fall after retreating and breached the triangle pattern hitting a low of Rs 137.10 on October 5. The stock holds a multiple bottom at Rs 139-140, but the low volumes and RSI much below 50 suggest lack of momentum. We suggest you to avoid and enter on close above Rs 166.60.