Ajanta Pharma has given trendline breakout with rising volume on daily charts. Also it has major support around 1650 on daily charts. ADX and RSI have turned positive on daily and weekly charts. One can initiate long position on around 1780-1810 with Stop loss of 1650 (closing basis) for Target of 1950-2100 in next 10-12 weeks.
Making Lower high and Double Top with RSI Divergence. 5 Impulse waves have also completed and it may correct now. It also looks like a truncation situation here. Overall, supply looks strong for now or you may say profit booking is in process, makes it sell for now. T1: 1418 SL:1610 Risk/Reward: 1:5