Ajantapharma has broken 1.long term downward trendline 2. long term downward channel 3.Triangle. Price was consolidating inside the triangle for a long time. . After taking support at 1680 - 1700 levels price has broken the triangle indicating bullishness. Buy Ajantapharma above 1750 with the stoploss of 1730. Targets are 1835, 1870 and 1900. However the price may pullback a little as there is hidden bearish divergence. . Hidden bearish divergence happens when price is making a lower high (LH), but the oscillator is showing a higher high (HH).
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@ 1794 on 3/19/17Note
Target 1 reached on 3/20/17
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Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.