🔻 Descending Triangle Breakdown
Price has been respecting a descending triangle:- Flat support near ₹174.
Lower highs forming a down-sloping resistance.
Recent weekly candle has closed below the demand trendline → signalling weakness.
Breakdown Level: ₹174
📌 Fibonacci-Based Downside Targets
Based on the last swing:
Fib 23.6%: ₹154.90
Fib 38.2%: ₹143.60
Fib 50%: ₹127.51
Major Fib 78.6%: ₹115.67 (Strong support zone)
📉 Volume Confirmation
Breakdown candle occurred with elevated volume.
Sellers are active. Demand zones are being tested with weak buying response.
Price has been respecting a descending triangle:- Flat support near ₹174.
Lower highs forming a down-sloping resistance.
Recent weekly candle has closed below the demand trendline → signalling weakness.
Breakdown Level: ₹174
📌 Fibonacci-Based Downside Targets
Based on the last swing:
Fib 23.6%: ₹154.90
Fib 38.2%: ₹143.60
Fib 50%: ₹127.51
Major Fib 78.6%: ₹115.67 (Strong support zone)
📉 Volume Confirmation
Breakdown candle occurred with elevated volume.
Sellers are active. Demand zones are being tested with weak buying response.
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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.