Descending triangle spotted - Escorts
Updated
Escorts is trading below strong support of 545. It's 200 EMA is also around 545. Formed a small range just below support, which has now become resistance for it. Buyers are active in this region as the delivery percentage is quite high. Deliverable quantity is above average.
Descending triangle is usually a continuous pattern. If it breaks triangle's baseline (514-513) then be ready for good fall (100 points fall is expected in that case). However, if it shows up move, buy above 550 for targets of 580 and 640
Descending triangle is usually a continuous pattern. If it breaks triangle's baseline (514-513) then be ready for good fall (100 points fall is expected in that case). However, if it shows up move, buy above 550 for targets of 580 and 640
Note
Short term range below support broken. Keep an eagle eye. Wait for confirmation and shortTrade active
It is ready!Note
Target 1: 490Bigger target: 420
Note
First target of 490 achievedNote
Low of 486.60 registeredNote
Seems like it has taken supportNote
Good volume tooTrade closed: target reached
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