Sukhani told CNBC-TV18, " Aurobindo Pharma is a very strong chart. It has strong and decent support at Rs 180-185 area. It has come down to that level and bounced back again, which is what it did two days ago, it came down to Rs 180 and then bounced. That bounce could then take it back to Rs 200 where the earlier highs were made."
He further added, "It is a strong chart. We are seeing consolidation. At worst, it can go to the resistance of Rs 200, which gives 10 percent and at best it can break that resistance eventually. It is also a position trade."
The share touched its 52-week high Rs 204.90 and 52-week low Rs 104.50 on 07 January, 2013 and 10 August, 2012, respectively. Currently, it is trading 7.22% below its 52-week high and 81.91% above its 52-week low. Market capitalisation stands at Rs 5,535.93 crore.
Disclosure: I have no holdings in the above stock.
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