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Ajanta Pharma: About to cross Heavy supply zone

Long
NSE:AJANTPHARM   AJANTA PHARMA
Ajanta Pharma is near a strong resistance level .
There is a heavy supply zone in 1600-1650 levels and scrip has tested these levels multiple times in past occurrences.
Only on one occurrence, it crossed the zone with volume and attained above 2000 levels

Now It has entered into the same zone again & This time supported by heavy volumes as well.
The stock has seen good upmove recently due to Pharma indices moving higher in the wake of COVID-19.

If scrip crosses & sustains above 1660 levels, there is a good chance it will go up to 1800-1850 in short term.
If unable to sustain and falls below 1580, Ignore the long setup.

Entry: above 1660
Target : 1850


Trade active: Ajanta Pharma Broke the supply zone as expected today. Long trades can be initiated once it sustains the levels throughout the day.

Comments

Hi Sir,
I too had the same view and took entry in 1590 and currently its come back @ Retest zone .
Can you share your view on Time period to reach our targets of 1800 / 2000 ?

Kindly share your thoughts and it will be more helpful
Reply
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