praveen.bhatiya

Ajanta Pharma LONG Descending Triangle

Long
NSE:AJANTPHARM   AJANTA PHARMA
Nicely formed Descending Triangle has given breakout today. Action Reaction method of Andrews suggest that price can easily reach 1970 - 2000 in coming days. Stop Loss 1780. Good Risk to reward ratio.
Trade active: Trade Entry long @ 1791.

Comments

i feel u r suggesting 1680
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praveen.bhatiya sethuramcbe
@sethuramcbe, It seems a false breakout as it did on 24.01.17. For a valid breakout price should close out of the pattern. Why I posted early so that people can prepare and take timely action. If it closes out of the pattern Long trade could be initiated and the low of this bar should work as Stop Loss.
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is stop loss 1780
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praveen.bhatiya sethuramcbe
@sethuramcbe, It has finally taken the direction after initial hiccups so I am long in the trade @ 1791.
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