Ajantpharm seems to be breaking out of a Falling Wedge Pattern in the Weekly charts. A decisive breakout above 1030 would confirm the pattern with targets coming in at 1160 /1300. Pattern negated below 900.
Break of Trendline which has been haunting Ajanta Pharma for 3 years (since 2016).
NSE:AJANTPHARM @AjantaPharmaLtd
Explained everything in the chart, Let me know if you have any question?
ajantpharma is on downside as in chart. its on edge it can be great trade with small risk on downside.
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New price acceptance after open may leads to go next resistance. Run with SL
May be breakout up or down side set stop loss as per rule
Breakout in inverted flag STRICTLY below 968 sl 976 for 956-946
price has been re-test the broken line and further trading below neckline
It may bounce from 895-900 support. It has formed a spin bar when the stock is in downtrend and may reverse even without hitting the support "Go Long If PDH broke (942) Else watch for a bounce from the support at 895 Short If Support breaks at 895"
Ajanta Pharma has been in a medium term downtrend, which is expected to continue. In Short Term, it is making a triangle, with support around 1128, Target could be 1171/1195/1292 with SL 1125
Ajanta Pharma has been in a medium term downtrend, which is expected to continue. In Short Term, it is making a traingle, with support around 1128, Target could be 1171/1195/1292 with SL 1125
Next target will be 1550-2000+++ time 2-4 Months