Chart Patterns insist me the above titled opinion
REASONS
1. BhartiArtl has been trading inside a Ascending channel pattern(bright red & green trendlines)and right now down swing move is under process(in the form of descending channel)
2. In the weekly time frame, it looks alike a Bearish pennant formation and given breakdown out of consolidation(shown below)
3. In the daily timeframe, Head & Shoulders pattern too visible(shown below)
4. There is Consolidation zone(in form of a rectangle box).
5. SL can be day candle closing above 796(candle escaping out of the box)
6. Target - 730,717,700
7. Strong support down near 675 levels(rectangle box shown)
Let's see how it moves!!!
NOTE- Just sharing my view....not a tip nor advice!!!
REASONS
1. BhartiArtl has been trading inside a Ascending channel pattern(bright red & green trendlines)and right now down swing move is under process(in the form of descending channel)
2. In the weekly time frame, it looks alike a Bearish pennant formation and given breakdown out of consolidation(shown below)
3. In the daily timeframe, Head & Shoulders pattern too visible(shown below)
4. There is Consolidation zone(in form of a rectangle box).
5. SL can be day candle closing above 796(candle escaping out of the box)
6. Target - 730,717,700
7. Strong support down near 675 levels(rectangle box shown)
Let's see how it moves!!!
NOTE- Just sharing my view....not a tip nor advice!!!
Trade active
Comment:
very tight range...volatile move can be expected!!!
Comment:
still inside the consolidation zone!!!
Trade active
Trade active
Comment:
still inside the zone!!!
Trade closed: stop reached
Comment:
escaped out of the zone
Comment:
entering again....keep it in watchlist...
