Short Ajanta Pharma, says Shrikant Chouhan

Short Ajanta Pharma, says Shrikant Chouhan, VP Technical Research of Kotak Securities.

Chouhan told CNBC-TV18, "Ajanta Pharma was into strong bullish momentum but after spending 2 months in the range of Rs 300-340, the stock had started forming bearish consolidation at the top of the rally. So the strategy should be to trade short at CMP, more at higher levels around Rs 310-315 with stop loss at 340 and on the lower side we can expect minimum Rs 280 and max Rs 255.