Technical Call: Aurobindo Pharma- BUY

Long-term investors can buy the shares of Aurobindo Pharma (₹565.80). The recent rally signals that downtrend that was in place since May 2021 could have found a bottom. A short-term correction to ₹520-510 from current levels cannot be ruled out. An eventual break above ₹580 can target ₹750-800 possibly in the first half of next year. A multiyear price analysis indicate that Aurobindo Pharma share price has potential to target ₹1,100-1,200 over the next couple of years. Buy now and accumulate at ₹520. Keep the stop-loss at ₹370. Revise it up to ₹650 as soon as the stock rallies to ₹790. Move the stop-loss further up to ₹780 when the stock touches ₹930. Book profits at ₹1,000.