Aggressive Traders can go long with Ajanta Pharma at CMP around 1300 with SL around 1250-1260 and target 1330, 1400 and final target around 1440-1460.
It may consolidate near 1460 for few days before next move.
Conservative traders should enter near 1190, if get chance, with SL around 1140. Target depends on next price action. Same targets can be considered if...
VCP - Volatility Contraction Pattern by Mark Minervini
Levels are mentioned on chart, please wait for close above resistance line.
Disclaimer: I Am not SEBI registered
Good bounce from the support level and about to break out from 4 months of consolidation.
SRT - level is also bouncing from 0.7 levels to 1.0
The past couple of days - strong committed volume with Effort move Up can be seen.
ADX is rising, just out of Squeeze.
Closed Bullish Engulfing
The weekly trend is turned from -ve to +ve.
Daily Close above 20-SMA...
Currently on a strong negative trend.
Today's volume is lowest in past 1 Year - daily volume. 10-D/M/3M/6M/Y- Low
Based on previous support -- possible to bounce back from the current level.
Need to wait to cross 2035 and can see 2095/2180 levels
-- This is my own idea/understanding & possible tukka 98% times.
Ajanta pharma looks good for swing trade entry at 2340 CMP. SL of 2200 approx. Breakout of channel retest and continuation of trend can be seen on daily chart.
Ajantapharma is forming a pennant pattern after a decent upmove
Stock is in consolidation phase
Expect the stock to reach ATH if the pennant is broken on the upside
Target - 2113
Stoploss - As per your risk appetite
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Please stay safe. Happy Trading!
Regards,
Segan
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...
It has given Wedge Pattern breakout on the daily chart. ADX also indicating strong upside movement expected. RSI also confirming the continuation of the bullish movement. We can expect price movement up to 2365 as the target of Wedge Pattern.
