Auro Pharma has formed a area gap.
Auro pharma was having a down trend since November 2017 and recently started the uptrend by forming higher high on 24/04 /2018.
It formed the area gap up on 30/04/2018. Open on 30/04/2018 is Rs. 636.40 and the close of the previous day on 27/04/2018 is 630.70.
Volume also is not increased indicating the lack of the strength to the signal and as it was a area gap , where gap up has occurred inside the trading range, it was expected that the gap should be filled within few days. On 30/04/2018 on the gap up day also there was a attempt to fill the gap, but bears could succeed to bring price down only up to Rs. 633.10 . After that bulls took over and script formed a bullish candle and closed at Rs.642 , after forming the high of 644.40.
As area gap are expected to get up filled up easily, next trading day on 02/05/2018, script opened lower at 641.5 and went down to all the way to 630 ,thus filling the area gap.
Short entry below the low of the gap up day at 633.10
