Shouldn't W pattern be formed after a downtrend at the bottom as it signals a reversal of the downtrend into an uptrend. Price may still go up my comment is only for the pattern.
riyankok
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@Praveen.bhatiya, Then what type of pattern is in biocon?
praveen.bhatiya
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@riyak, Descending Triangle that works as a continuation pattern, What do you think?
riyankok
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@Praveen.bhatiya, Agreed, Thanks for sharing the knowledge
praveen.bhatiya
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@riyankok, It's my pleasure. We are learning together. :)
riyankok
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@Praveen.bhatiya, I think on Monday it will indicate its final move, If it goes upward then it will break new highs and if it forms bearish bar then we can expect downtrend. What's your call?