There seems to be a potential Bearish Bat formation on
GMRINFRA
on the daily charts.
A short can be initiated at 13.88
Target 1: 12.48
Target 2; 11.65
Stop: 14.52
Please Note: The lot size for futures of this stock is 45,000 units.
Disclaimer: The chart is only for educational purposes and in no way a recommendation to trade. Please conduct your own research before trading.
GMRINFRA
on the daily charts. A short can be initiated at 13.88
Target 1: 12.48
Target 2; 11.65
Stop: 14.52
Please Note: The lot size for futures of this stock is 45,000 units.
Disclaimer: The chart is only for educational purposes and in no way a recommendation to trade. Please conduct your own research before trading.
Comment:
Closer view of the convergence of the falling trendline (Orange Line) & entry point (Marked as Blue Line)
Closer view of the convergence of the falling trendline (Orange Line) & entry point (Marked as Blue Line)
Trade closed: stop reached
Entry Point also coincides with a falling trendline which will act as resistance.