AJANTHPHARM Price action ReversalAjantha pharma which is trading near a weekly trend channel limit, if finding trouble to cross the flipped supported. last day candle is bearish engulfing candle. so any thing below the low can be shorted with sl above the high for the trendling bottom.
Entry 1857
SL 1930
Target 1595
Very good risk reward possible.
Pa!
EWA & PA Analysis of ColPalColpal Trading near Monthly TL support is expected to have completed WX/AB waves of correction as Elliot Wave.
Now 1033 high is key for longer term bulls. any close below the monthly TL support which is near a small demand zone too, should trigger Monthly TL-2 target and Weekly TL tgt.
SL above 1033 longer term
shorterm players should wait for a retracement r short below Monthly TL with lower swing high as SL (conservative)
Trade idea: selling 940/960 CE should be good idea to get a income with sl at 956 spot