OUR RECOMMENDATION
| CMP# | 1181.7 |
| Idea | SELL |
| Sell Range | 1200 – 1170 |
| Target | 1000 – 950 |
| StopLoss* | 1250 |
| Duration | 40 – 50 Trading Sessions |
| Potential Return^ | 17 – 21% |
| CMP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Return^ |
| 1181.7 | SELL | 1200 – 1170 | 1000 – 950 | 1250 | 40 – 50 Trading Sessions | 17 – 21% |
# CMP on Jan 01, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 1090.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
Ajanta pharma, established in 1979, operating in Pharma & Healthcare sector, having 6 manufacturing units in India. This drug manufacturing company engaged in developing formulas, producing and marketing tablets, ointment, capsules and lotions. Most of its revenues generated from developing countries like Africa and India. In Q2, their consolidated revenue jumps to Rs 544.11 crore as against the year-ago period of 540.38 crore. Net profit dipped 54% year-on-year to Rs 67 crore.
| Stock Data | |
| NSE Code | AJANTPHARM |
| Sector | Nifty Pharma |
| 52W High | 1457.75 |
| 52W Low | 895.85 |
| Face Value | 2 |
TECHNICAL OBSERVATIONS (WEEKLY)
- Price made all time high in October 2016. Since then Long term trend is going downwards.
- Price is moving in a falling channel trend. Every time the price is near the upper resistance, price start falling.
- Price is now near the upper Resistance line. According to past historical event, a fresh short will be a good idea.
- This way, we are not against the trend, but trading with the trend.
TECHNICAL OBSERVATIONS (DAILY)
- Candlestick pattern is showing bearishness.
- Price is moving upwards, while the ROC (3) is moving downwards. There is a clear divergence in Price and ROC movement. This indicates that the Momentum is falling.
