📌SWING TRADE FOR NEXT WEEK 🚀
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I am a Swing Trader by Passion i only trade on Momentum Stock's.
📌I Post Daily SWING CHARTS Analysis on My Trading view profile..
So let's Start
📌TRADE ANALYSIS OF AJANTA PHARMA
• Potential Breakout Chart
• VCP Pattern ...
There is a one more stock Which is showing a great opportunity and forming descending triangle, stock is near support and ready to blast. what is your view please comment it down. We are NISM Certified. All views shared on this channel are my personal opinion and is shared for educational purpose and should not be considered advise of any nature.
📊 Details
Ajanta Pharma is primarily engaged in development, manufacturing and marketing of speciality pharmaceutical quality finished dosages.(Source : 202003-01 Annual Report Page No:70).
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
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AJANTPHARM, a leading pharmaceutical company, has recently seen its stocks take a dip, positioning perfectly into the EMA 20 strategy that I'm about to unveil. Before we dive into our analysis, let's ensure we understand the strategy.
📚 The EMA 20 Strategy Explained
Identify an Uptrend: Look for a Higher High-Higher Low structure.
Ensure the EMA 8 lies...
●On 1M Time Frame, Ajanta pharma has given a Breakout.
□ To initiate a Trade.
○ SL can be maintained below the low of Breakout candle.
○ Maintain a Risk Reward ratio of 1:1 atleast.
♤On 1W Time frame, Double bottom pattern Breakout can be observed.
◇ On 1D Time frame, Falling wedge pattern can be observed.
Ajanta Pharma forming classing cup and handle pattern on monthly time frame. A break above 1800 on weekly closing will lead this to 3000 levels.
Stock requires patience so invest accordingly.
Ajanta Pharma hits 52-week high on upbeat branded generic business outlook
The management is confident to scale up margins again in the coming years on the back of enhanced contribution from Branded Generics business and normalisation of freight costs
BUY - AJANTA PHARMA LTD
CMP - Rs. 1455
Target - 1: Rs. 1625
Target - 2: Rs. 1840
Target - 3: Rs. 1995
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Technicals - Bullish Triangle BO
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NOTE: Target - 1 will be achieved within 3 months, while Target 2&3 will be achieved within9 months.
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This is just a view by an expert analyst, please invest at your own risk.
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In the Weekly Chart of AJANTPHARM ,
we can see that; last week it has given breakout from W chart pattern.
Also. last to last week it gave breakout from Inverted Head & Shoulder.
This shows it is in very strong bullish momentum.
Let it retest and then enter with SL.
Good Daily as well a Weekly charts
Target 1530/1570
This is Positional view
Stop loss 1425
I am just representing my views\
For educational purpose only.
Stock looks good to buy at the break of trend line , the counter has formed abullish pattern after retracing 50 % of the upmove it has given from past few months , steady cashflow and momentum indicators suggesting a healthy upmove
Plots on the chart for referrence
Ajanta pharma buy above 1275 only if it crosses on next candle with 1:2 minimun,Its a nice breakout + doji formation + trendline support + trend change
✅ Price Hole 1136-1155 level for a long time and 1 time also give false breakout for downside.
✅ After a very ling time Hold level and Consolidate in 1136-1240 range and now break.
✅ On 4hr.ly 1228-1240 you can look for Long on 1 hr./15.min. and proper reversal.
✅ But don't take very long target because 1322.1359 level is also a Multiple time tested level price...
