NSE:AJANTPHARM
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and...
Hi everyone, Ajanta pharma short term swing trade consider buy above 2,240 target 2,395 & 2,435 stoploss 2,165.
LOGIC BEHIND TRADE : Stock is trading range bound soo buying on support and selling at resistance & can consider buy on support 2,117-2095 stoploss 2,080. Looks good for short term swing trade & best thing to do in range bound stock. Double conformation...
The stock has broken out and retested the lower trendline and found support. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone and the Lower Trendline. The target is placed near swing high.
Technical analysis - (Daily)
1) Broke 1880 strong resistance and took support which is bullish ↗
2) RSI in Bullish Range and took support on 60 level
3) Above 20 Daily EMA
Short term Target - 2120
Medium term Target - 2600
Hello!! its Ajanta pharma now...... mmmm I personally don't like pharma stocks much but this looks good and it is in a rangebound condition for now and the red bold red lines are very good resistances and supports ....... if it breaks the resistance some rally of 100-200 pt.s can be seen. #my_view #learner
Ajanta Pharm a good short candidate for immediate target of 55 pts. The next support below is the next S/R flip zone, breaking below that would take it down further.
DISCLAIMER : FOR STUDY PURPOSE, NOT FOR TRADING.
This stock is at a very crucial level. Having already formed a major Head & Shoulders pattern, stock may again form an internal H&S if it retraces from here and we may see great falls. However this is just a possibility and if it manages to cross 1175 on closing with volume, stock may give upside move towards 1300. Stay alert and pick the right side!
