ACC CMP : 1861
Clearly shows rejection at the top of the trendline. Close below 1856 should signal a short downtrend.
This is a rising wedge. Evening star pattern is confirmed. Downward target-1 is 1811.
Expecting price to touch the slanting red trendline before any move upwards. Also it is a false breakout.
So the down move can be sharp. A close above 1878 on hourly is stop loss.
On hourly a head and shoulder pattern is also forming.
So bearish as also on 1 hrly 8 EMA moved below 21
EMA.
Clearly shows rejection at the top of the trendline. Close below 1856 should signal a short downtrend.
This is a rising wedge. Evening star pattern is confirmed. Downward target-1 is 1811.
Expecting price to touch the slanting red trendline before any move upwards. Also it is a false breakout.
So the down move can be sharp. A close above 1878 on hourly is stop loss.
On hourly a head and shoulder pattern is also forming.
So bearish as also on 1 hrly 8 EMA moved below 21
EMA.