Ajanta Pharma.. Ajanta pharma..crossed 200 dma and restested once and is facing resistance from the trendline..
break above trendline can make it bullish
Info of zone in action in chart..
NOTE: this is my personal view only
AJANTPHARM trade ideas
#AJANTAPHARMA CASH : LOOKS GOOD ABOVE 1190.25#AJANTAPHARMA CASH
08 JAN 2019
LOOKS GOOD ABOVE 1190.25
STOPLOSS 1180
TGT 1198-1200/1218/1248
CMP 1172.80
AJANTPHARMA - Short Trade IdeaShort below 1177 with SL 1206
T1 1169
T2 1164.2
T3 1153.65
T4 1147.5
T5 1141
AJANTPHARMA - Short Trade IdeaShort below 1169.65 with SL 1198.1
T1 1164.2
T2 1153.65
T3 1147.5
T4 1141
T5 1130.5
Look at the chart , It's tell everything what you want to know..Ajantapharma trade in good pattern
In long term It's break out triangle patterns which one suggest good buying entry
In other view bullish harmonic XABCD pattern final lag CD is on the way
& also AB=CD where CD lag on the way
All this level suggest that
One can look for Buy above 1190
For the 1st target of 1240-50 Zone
& 2nd target of 1295
With Stop loss of 1125
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.
Trade No-8Ever thing mention on chart
For more clarification write in comment Box.
Test your brine
Life is 10% what happens to you and 90% how you react to it.
Possible Interruption This one might Go back to retest the top , watch out when it drops to 1057/1050 it might slow down and reverse
if fails to stop then Look for continuation till 884,
AJANTA PHARMA LTD : DOUBLE BOTTOM1. ENTRY : Closing Above 1126.70 ( Closing above the Neckline )
2. Minimum Price Target : 1350 ( Adding the difference between highest high made and lowest low during the formation to The Neckline )
3. Stop loss : 900 (Usually, price closing below the second bottom is a stop-loss.)
Only Problem While treading Double Bottom is it's having a 1:1 Risk Reward Ratio, When Minimum Price Target reached. So apply your money management wisely.
For Example : If you wanna Risk 5000 as a Maximum loss then Trade, Risk Amount / Stop loss Points = Quantity to be traded.
5000 Risk Amount / 226 Stop loss in Rs. = 22 Shares to be traded to Earn apx 5000 as Profit.
Statistics says that 70% of Double meets predicted price targets.
Assuming 10 trades.
7 wins = 7*5000 = 35000
3 loss = 3*(5000)=(-15000)
Net Profit After every 10 calls will be 20000.
As said earlier because Double Bottom Reversal Pattern having a 1:1 Risk to Reward ratio Need to Pick trades carefully.
Always Keep your Risk Profile low When you have RR less then 1:2.
