CONCOR - Bearish Cloud Cover

Note: This is for educational purpose only.

There seems to be a bearish cloud cover pattern at channel's resistance. Moreover, this is supported by spike in volume . This denotes that bears are taking control.


Yes, your analysis seems promising. However, this pattern looks like a rising wedge. It does indicate a price reversal. But rising wedges are a bit infamous not behaving as expected so there are chances it could be a false breakout too. Although I would still like to be on the bearish side. I would be comfortable in keeping the target around Rs 400. Let's see how it works out.
kalyanganguly Mr_Knower
@Mr_Knower, thanks for your honest feedback. Comments like these help me learn too. Thanks a lot. Whichever way the trade goes but thanks a lot for such a constructive feedback.
Mr_Knower kalyanganguly
@kalyanganguly, You're welcome!
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