Aurobindo Pharma shares defend key moving averages; short-term upside likely: Systematix
Aurobindo Pharma has repeatedly defended its key moving average supports, as it refused to trade below the 50-day and 20-day Simple Moving Averages (SMAs) placed around Rs 1,185 and Rs 1,183, respectively.
- Mar 10, 2026,
- Updated Mar 10, 2026 2:22 PM IST
Systematix Shares and Stocks (India) on Tuesday suggested accumulating shares of Aurobindo Pharma Ltd for short-term targets of Rs 1,322 and Rs 1,380, respectively. It advised traders to buy Aurobindo Pharma shares in the range of Rs 1,247-Rs 1,243 with a stop loss placed at Rs 1,178 a piece.
The brokerage said Aurobindo Pharma has repeatedly defended its key moving average supports, as it refused to trade below the 50-day and 20-day Simple Moving Averages (SMAs) placed around Rs 1,185 and Rs 1,183, respectively, and subsequently bounced from these levels.
The domestic brokerage noted that the 20-week SMA, currently positioned near Rs 1,192, has been acting as a dynamic support over the past few weeks, adding that the overall moving average alignment indicates that the short- to long-term trend structure remains firmly bullish.
On Tuesday, the scrip was quoting at Rs 1,282.45, up 2.84 per cent.
From a broader perspective, the weekly line chart suggested that the stock is trading above the neckline of a well-defined Inverse Head and Shoulders pattern placed near Rs 1,228 level. Sustaining above this neckline confirms the bullish reversal structure, Systematix said.
It said Aurobindo Pharma Ltd exhibited a strong bullish technical setup supported by multiple breakout signals and improving momentum across timeframes. On the daily line chart, the stock has delivered a bullish breakout from multiple consolidation patterns, indicating the resumption of upward momentum after a phase of consolidation, Systematix said. The stock also formed a bullish candlestick pattern, accompanied by above-average volumes, which reflected strong buying interest and confirms the credibility of the breakout.
"Therefore, one can consider accumulating Aurobindo Pharma Ltd in the range of Rs 1,247–Rs 1,243, with a stop loss at Rs 1,178, for potential upside targets of Rs 1,322 and Rs 1,380 in the near term," it said.
Systematix Shares and Stocks (India) on Tuesday suggested accumulating shares of Aurobindo Pharma Ltd for short-term targets of Rs 1,322 and Rs 1,380, respectively. It advised traders to buy Aurobindo Pharma shares in the range of Rs 1,247-Rs 1,243 with a stop loss placed at Rs 1,178 a piece.
The brokerage said Aurobindo Pharma has repeatedly defended its key moving average supports, as it refused to trade below the 50-day and 20-day Simple Moving Averages (SMAs) placed around Rs 1,185 and Rs 1,183, respectively, and subsequently bounced from these levels.
The domestic brokerage noted that the 20-week SMA, currently positioned near Rs 1,192, has been acting as a dynamic support over the past few weeks, adding that the overall moving average alignment indicates that the short- to long-term trend structure remains firmly bullish.
On Tuesday, the scrip was quoting at Rs 1,282.45, up 2.84 per cent.
From a broader perspective, the weekly line chart suggested that the stock is trading above the neckline of a well-defined Inverse Head and Shoulders pattern placed near Rs 1,228 level. Sustaining above this neckline confirms the bullish reversal structure, Systematix said.
It said Aurobindo Pharma Ltd exhibited a strong bullish technical setup supported by multiple breakout signals and improving momentum across timeframes. On the daily line chart, the stock has delivered a bullish breakout from multiple consolidation patterns, indicating the resumption of upward momentum after a phase of consolidation, Systematix said. The stock also formed a bullish candlestick pattern, accompanied by above-average volumes, which reflected strong buying interest and confirms the credibility of the breakout.
"Therefore, one can consider accumulating Aurobindo Pharma Ltd in the range of Rs 1,247–Rs 1,243, with a stop loss at Rs 1,178, for potential upside targets of Rs 1,322 and Rs 1,380 in the near term," it said.