short or sell ajanthapharma

ajantha pharma forms lower highs and lower lows indicating a downtrend in monthly time frames and in daily charts also it is in downtrend, currently it forms a symmentrical triangle in daily charts and there is significant amount of low volume converging towards apex ( found this point in the book technical analysis by john murphy ) if there is a break out on downside with good volume we can sell the stock, measuring the base of the triangle and using it to project the target price the stock can move to 1200. if u find this post useful or wrong pls do reply or message dont just pass away, your views and comments are always appreciated