Stock is facing resistance of declining trend line. On daily chart stock has started trading below important moving averages.
Aurobindo Pharma is in a phase of distribution for the last 3 months and now on the verge of breaking down of a rectangle formation. RSI on monthly chart is facing hurdle at important resistance level.
Bearish engulfing pattern has emerged in weekly chart with negative divergence. Stock is facing resistance of declining trend line. On daily chart stock has started trading below important moving averages. Pattern will get confirm once Rs 705 trades on lower side. Hence, the stock is conditional sell below the aforesaid level.
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