AJANTPHARM MADE DOUBLE BOTTOM IN WEEKLY AND DAILY CHART, IN WEEKLY AND DAILY CHART, MADE HAMMER CANDLE AFTER DOWNTREND WHICH MEAN SELLER ARE EXHAUSTED, RSI AT 29, ADX IS SHOWING POSITIVE DIVERGENCE, I THINK IT WILL TEST 21 EMA, POSITIONAL VIEW FOR THIS FEB CONTRACT 1ST TARGET = 1040 AND SECOND TARGET IS 1100
It has been observed that the price action was deeply pushed down without much change in the fundamentals of the company. It may just be called as healthy correction and now the correction reached to a strong support zone which has been previously tested, therefore there is high possibility that the buyers will come at current levels and will further control over...
AJANTPHARM has formed morningstar pattern on 23rd August and has consolidated between 1180-1240 zone. Yesterday it showed breakout from that range and its a good bet for short-term upside.
Ajanta Pharma was forming lower highs and lower bottoms, it has broken out of that trend and is now moving up in a channel. Long with Tgt 1780. SL: Close below lower trendline.
Disclaimer: I am a novice at charting and this chart is for educational purpose only. Views and opinions are welcome.
Wait for a close above 1641 for a tgt of Rs 1725. SL 1610
Disclaimer: I am a novice at charting and this chart is for educational purpose only. Views and opinions are welcome.
They have asked to buy right?
I will say it will fall more till it's major support to bounce back. So why catch a stock is a downtrend when you can catch it in an uptrend?
earlier we saw a bullish engulfing pattern there and now a bullish harami pattern there with bullish divergence and price above 8 ema and price can test the level 1900
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
Stoploss: 1920
Ajanta Pharma Limited is a holding company. The Company is a specialty pharmaceutical company engaged in developing, producing and marketing a range of branded and generic formulations. Its business includes branded generics in emerging markets of Asia and Africa, generics in the developed markets of the United States and Institutional sales. The branded generics business is spread in India and over 30 emerging countries across Africa, Commonwealth of Independent States (CIS), the Middle East and South East Asia. The Company serves a range of therapeutic segments, such as anti-biotic, anti-malarial, anti-diabetic, cardiology, gynecology, orthopedics, pediatric, respiratory and general health products. Ajanta has six formulations manufacturing facilities located in India and 1 in Mauritius. In addition, the Company also has an API manufacturing facility located at Waluj, India. The Company's subsidiaries include Ajanta Pharma (Mauritius) Ltd., and Ajanta Pharma USA Inc.
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AJANTPHARM
