Long

High Probability Trade - Ajanta Pharma

By Suryavanshi1983

Updated

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

Note

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.

Note

Target 1 Achieved

Note

Looks like heading for 1140 to complete triangle.

Note

Bounced off support n clear breakout

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.

Suryavanshi1983

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