vanathi
Long

Ajantapharma - Preparing for upmove!

NSE:AJANTPHARM   AJANTA PHARMA
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Ajantapharma has broken 1.long term downward trendline 2. long term downward channel 3.Triangle. Price was consolidating inside the triangle for a long time. . After taking support at 1680 - 1700 levels price has broken the triangle indicating bullishness. Buy Ajantapharma above 1750 with the stoploss of 1730. Targets are 1835, 1870 and 1900. However the price may pullback a little as there is hidden bearish divergence. . Hidden bearish divergence happens when price is making a lower high (LH), but the oscillator is showing a higher high (HH).
Trade active: @ 1794 on 3/19/17
Comment: Target 1 reached on 3/20/17
Hope the time here not to scale, I mean your taraget 1870 is expected in June?
Or, do you mean that the sock will move in side way?
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vanathi padiyaraa
@padiyaraa, Price label icon wont be visible if I use it very near to each other. No It doesnt represent time line.
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padiyaraa vanathi
@vanathi, you are right.
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vanathi padiyaraa
@padiyaraa, Good movement today.
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padiyaraa vanathi
@vanathi, RSi is above 50, advancing to overbought level is always bullish only
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vanathi padiyaraa
@padiyaraa, I agree
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