AJANTPHARM trade ideas
AJANTAPHARMA - Rectangle & TrendlineA rectangle & a trendline breakout on Daily Chart of AJANTA PHARMA. BUY 1725.10 -> 1780, 1810-20. SL TBD when it crosses 1725, most probably though it'll be around high 1600s. But still, it'll be quite prudent to review it at the time of breakout. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
AJANTPHARMA forming a CHANNEL pattern buy at 1638I will go LONG on AJANTPHARMA because:
The price is forming a Chanel Pattern .
The price is also under Support/Resistance zone.
It has touched the support (lower end of trendline ) and may reach the resistance zone (upper end of trendline ) .
Target would be the Resistance area . Book profit when it reaches the resistance zone .
Entry - 1638/1578
Target - 2006
Stop loss - 1539