AJANTPHARM has made a rounding bottom pattern over last 4 years.. Stock is finally trading just below neckline in a symmetrical triangle.. (clearly seen on daily chart)
Any bullish breakout (with Volumes) will most likely break both symmetrical triangle and neckline resistances. .which will be a very bullish move... However, it is also likely that it might get rejected and have a bearish breakout ... That would most likely lead to a handle formation over the next year or so..
I think it will be interesting to watch how this would play out..
Disclaimer: I do not know the future and neither do you .. We can only hypothesise based on what we see on the chart now.. Things might completely change in a month...
Any bullish breakout (with Volumes) will most likely break both symmetrical triangle and neckline resistances. .which will be a very bullish move... However, it is also likely that it might get rejected and have a bearish breakout ... That would most likely lead to a handle formation over the next year or so..
I think it will be interesting to watch how this would play out..
Disclaimer: I do not know the future and neither do you .. We can only hypothesise based on what we see on the chart now.. Things might completely change in a month...
