Inox - Wind(ing) down
Inox wind has shown a classic descending triangle pattern. The stock has also been performing poorly vs. BSE 500. Despite the recently concluded bull run, the stock did not get any traction. The accum/Dist chart also confirms overall weakness. The stock may be on the way to its life time lows.
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Yesterday I mentioned on this stock as being near a major resistance zone. Today Inox broke this barrier and is down several points and below the 170 levels. Further downside from here is expected.
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