Refer to the Dabur , the Script has now reached the channel Top now the script can reverse to the .
Trend are in the Side. But Price Action evidence the script was in the top which was in the range bound.
We are going against the trend based on the below facts:
1. of the script was in the peak
2. was in the overbought range at 2hr, Day and Weekly TF
3. CPR Resistance 1 was reached.
4. Channel Top was reached with confluence on Resistance line.
5. Script was in the Range Bound.
6. 50 was far away from the value which was confluence to .
Entry: Tomorrow Open
SL - 622+13.50 - 635.50to 636 ( 1ATR Above 23rd August High)
Target - 574-571.
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Disclaimer: Kindly do your own analysis before executing the trade or
Contact your financial advisor and I am not a SEBI Registered Analyst.
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