Hello,
AS you can see in the hourly chart this stock is in strong downtrend from 1074 level on the hourly chart. If Ajanta pharma will not sustain above 980 on the hourly chart then it may test lower levels @ 920 and 900.
If it will sustain above 980 then also there is a major resistance @ 1000-1010 level.
In this scenario, the best way to trade is sell 1000 call.
This one is currently in small range which will likely drop & pause for one more move up
One can buy with pre-defined stop for projected target
R:R is 1:2
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...
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
![AJANTPHARM: [Intraday] Short Ajanta Pharma 3BB Trade](https://s3.tradingview.com/j/JjmuJ4fl_mid.png "[Intraday] Short Ajanta Pharma 3BB Trade")
