Ajanta pharma during the downtrend made Lower Highs with a flat Low and thus a triangle formation.
The breakout of the triangle started the uptrend.
In an uptrend, it is following a Higher High, Higher Low formation.
During both the trends, every upmove followed by strong correction waves...
HIgher High Higher low is kind of making a parallel channel, corrective wave stopped on the lower line of the channel & moved upwards.
Next resistance level is near 1720 that would be our 1st target,
T1: 1715-1725
T2: 1850-1860
The breakout of the triangle started the uptrend.
In an uptrend, it is following a Higher High, Higher Low formation.
During both the trends, every upmove followed by strong correction waves...
HIgher High Higher low is kind of making a parallel channel, corrective wave stopped on the lower line of the channel & moved upwards.
Next resistance level is near 1720 that would be our 1st target,
T1: 1715-1725
T2: 1850-1860