AJANTPHARM has made a rounding bottom pattern over last 4 years.. Stock is finally trading just below neckline in a symmetrical triangle.. (clearly seen on daily chart)
Any bullish breakout (with Volumes) will most likely break both symmetrical triangle and neckline resistances. .which will be a very bullish move... However, it is also likely that it might get rejected and have a bearish breakout ... That would most likely lead to a handle formation over the next year or so..
I think it will be interesting to watch how this would play out..
Disclaimer: I do not know the future and neither do you .. We can only hypothesise based on what we see on the chart now.. Things might completely change in a month...
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.