capsule91

Everest industries.... more downside eminent

Short
NSE:EVERESTIND   EVEREST INDUSTRIES
using the ichimoku system in the daily chart , reveals a very bearish sense..

there is a head and shoulder formation in the weekly chart, with the price action and the neck of the HS at the yearly pivot , the S1 yearly support most likely to act as a base after the HS does the damage to the price action

supports to watchout of in the weekly chart once the yearly pivot and the 0.382 fibo support level breaks down, which is very ;ikely due to the distribution going on and giving a visual appreciattion of aHead and Shoulder formation...

Disclaimer... not invested, watching
not an investing/trading recommendation
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.