Bearish Bat Formation on GMR Infra

There seems to be a potential Bearish Bat formation on NSE: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.

Entry Point also coincides with a falling trendline which will act as resistance.

Closer view of the convergence of the falling trendline (Orange Line) & entry point (Marked as Blue Line)
Trade closed: stop reached
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