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
Comment:
Still holding on the lows of 18th Jan. One can buy with sl below 1125. Expecting to break triangle on upside. Then a break of trendline, as overall pharma sector seems to be bullish going ahead.
Comment:
Target 1 Achieved...waiting for Breakout.
Comment:
Bounced off support n clear breakout...buy on dips nw
Trade closed manually:
Target 2 almost achieved and stock fell along with index even breaking the triangle support. Better to avoid this stock unless breaks the trendline near 1200 with an impulse. Will post a new chart once things are clearer.