Ajanta Pharma is currently trading around the ₹2800 mark, which has acted as a strong resistance zone over the past few months. The stock has tested this level 4 to 5 times, indicating significant supply pressure and trader interest at this price point.
At this stage, Ajanta Pharma stands at a crucial inflection point:
📈 Bullish Scenario:
A clean breakout above ₹2800, especially with volume confirmation, could potentially lead to a 10% upside in the near term, with scope for a 20% rally if momentum sustains.
📉 Bearish Scenario:
However, if the stock fails to break through and faces rejection again, we might see a pullback of around 10%, as traders book profits or short near resistance.
This setup presents a high-reward trade opportunity with a well-defined risk level, making it a good candidate to keep on your watchlist.
Disclaimer:
This post is for educational and informational purposes only. I am not a SEBI-registered investment advisor or research analyst. Please do your own research or consult a certified financial advisor before making any investment decisions.
At this stage, Ajanta Pharma stands at a crucial inflection point:
📈 Bullish Scenario:
A clean breakout above ₹2800, especially with volume confirmation, could potentially lead to a 10% upside in the near term, with scope for a 20% rally if momentum sustains.
📉 Bearish Scenario:
However, if the stock fails to break through and faces rejection again, we might see a pullback of around 10%, as traders book profits or short near resistance.
This setup presents a high-reward trade opportunity with a well-defined risk level, making it a good candidate to keep on your watchlist.
Disclaimer:
This post is for educational and informational purposes only. I am not a SEBI-registered investment advisor or research analyst. Please do your own research or consult a certified financial advisor before making any investment decisions.
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.
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.