gurjot_galwatti
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INDIGO - Double top pattern in a weekly time frame chart

BSE:INDIGO   INTERGLOBE AVIATION LIMITED
The Indigo stock has been facing major resistance at its lifetime high level of 1716 after the formation of a double top pattern in a weekly time frame chart. This pattern is supported by the RSI indicator, which is consistently descending from the overbought region and is currently below the downtrend resistance line. Hence, the stock is likely to come under selling pressure and will get first support at 1503, and second support at 1301.
2 more sessions to complete a weekly chart,so its premature to conclude,only2sessions in dis week. Net only 50%of W move done,waiting4 next2days move will give a much clear picture.2.DT usually occurs when d right top is <left top.3.40-60range rsi div is most-effective
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