AJANTPHARM Ascending triangle BO !!NSE:AJANTPHARM
#NSE:AJANTPHARM formed Ascending Triangle and got rejected twice by resistance.
Levels marked on chart for referrance.
Ajanthapharma
FY21-22 Swing Trade Idea #9 : Long on AJANTPHARMThis is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
Ajanta pharma - bullish triangleThis chart shows the consolidation face of AJANTA PHARMA after a power move. So we expect another power move if it brakes the current resistance level.
Wait for the breakout.
Confirm it is clear breakout with volume.
Buy with the help of technical indicators like macd, moving average, pivot points etc
Or you could wait for a retracement and buy at retracement (if it happens)
Beware : Please keep in mind and stay away from False Breakout Traps .
Also this is not any recommendation. Trade at your own risk.
Ajanta Pharma Trend Analysis & Trade Setup !!TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for entry setup, if available then Long/short.
R:R is 7-10 times.
Ajantha pharma short&mid term view- BullishDaily 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.
Vijayaraghavan.K,
Kovilpatti.
Ajanta Pharma - Technically a short term buyAjanta Pharma can be bought for short term with strict SL as 1360.
AJANTPHARM bulls time to cautiousAJANTPHARM 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.
Ajanta Pharma is medium to long term buyPick AJANPHARMA as mid to long term investment.
Targets and SL on the chart
Ajanta Pharma LONG Descending Triangle 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.
Bearish ABCD formed in Ajanta PharmaBearish ABCD formation in Ajanta Pharma might push the price to 1101 level. I would wait further for any long term investment.
Ajanta Pharma - Head and Shoulder Pattern SetupIt 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
Stoploss: 1920
Ajanta Pharma Breaks Above Ascending TriangleIt 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 another resistance levels at around 1940-1960 levels.
Target1: 1880
Target2: 1940
Stoploss: 1800
