Here's a beautiful price action analysis of Auropharma stock. Open candle is a Doji candle. It took support at previous day high (PDH). Price rallied higher to touch daily pivot 'r1' in next 30 minutes. Below is the 5-minute chart of the same.
Once price found resistance near 'r1', a small correction occurred between weekly pivot 'P' and daily pivot 'r1'. In 1-minute chart, this correction formed Triangle pattern. At the end of correction, positive reversal had formed in RSI.
It was a beautiful buying opportunity. Price rallied 13 points nicely. Price fell short of daily pivot 'r2' by just 1 point. The PR implications of RSI were also met by this time.
Once price finished the rise, it started moving southwards. Price-RSI divergence foretold further downside. At 11:55 A.M. price breached a minor trend line. I have marked critical junctures that offer beautiful price action lessons on the chart. They are as follows.
1 - At this point price took support of 'r1'.
1 to 2 - Price rise from point 1 to 2 was formed by strong bullish candles.
2 to 3 - This price fall bucked the strength of bulls.
3 to 4 - This price rise was formed by small body candles. This indicated weakness of bulls.
RSI at the top of point 4 was finding resistance against ceiling of bearish region. Selling opportunity is marked on the chart. The selling opportunity also was in coincidence with the breach of bigger trend line. Price fell down by 5 points nicely.