Aanta Pharma has been trading in down trend in a channel it retesting the channel resistance,traders may enter short with a target of 1660 in near term as 50% crucial fibo level.
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
Ajantha 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.
It is been observed on the hourly chart that the price action breaking above an Ascending Triangle formation, indicating a bullish signal ahead. It has broken the previous resistance levels of 1830-1840 which also indicates and confirms a bullish signal ahead. The target is been measured as per the triangle formation guidelines which also confluence with the...
