Daily and weekly indicators(MACD,ADX,CCI,RSI,PSAR) are showing positive signals. Daily ADX moving positive,Daily&weekly CCI positive crossover,weekly MACD cut may happen on upcoming weeks.These factors will help to achieve the target levels. Please refer chart for other details.
AJANTPHARM has been facing resistance at the channel top and upside looks capped. Those who went long its time to book partial profit and hold rest of the position with SL below 1520.
AJANTPHARM test the channel median and bottom in the days to come.
It is been observed on the daily chart that the price action forms a Bearish Head and Shoulder pattern where sellers are active in the market and put much pressure on buyers to push prices down. Now it shall further move down as the pattern indicates.
Target 1: 1800
Target 2: 1785
Target 3: 1760
It is been observed on the hourly chart that the price action breaking above an Ascending Triangle formation, indicating a bullish signal ahead. It has broken the previous resistance levels of 1830-1840 which also indicates and confirms a bullish signal ahead. The target is been measured as per the triangle formation guidelines which also confluence with the...