Last closing Price 690.55
- In downtrend since May 2017
- in Oversold region
- Channel support around 674
- Inverted umbrella (also known as gravestone ) observed in prevailing down trend with high volumes
Risk to reward ratio looks good to go long with
Target around 760 &
Stop loss of 674
Take care & safe trading...!!!
- The trend is down since May 2017 & joining 3 tops has been adhered to...
- We never said that stock is near trend support... rather it is near channel support which is derived by drawing a parallel line to the trend from 1st important reversal point...
- and the target we are looking at is trend line resistance level
- hope we are able to answer your query
Regards & best wishes