A break on the upside through the pennant could see 240 being hit in a week's time. However results out on the 8th of May and therefore may be prudent to observe the pattern till then, before taking a position.
The wave 2 correction in Mangalam Drugs seems to have become a bit complex. Now it appears to be at a structural support. Also there is 61% Fib support. So it's likely that the up move could start.
Any move below wave 1 low would negate this setup.