Scrip has traded flat before forming the pattern and shown enough bearish momentum with bear dominating with enough downtrend. (As per intra-day calls)
Breakdown: Bearish sufficient confirmation will come when the pattern breaks below the reaction lows that marked the beginning of the bullish trend at the start of the pattern. Yet the scrip is showing weakness after giving bearish gap today on 30 mins. chart. The volume engulf at the end of downtrend will decide the velocity of breakdown to be measured..
Entering below 479.
Trade with caution :)
Breakdown: Bearish sufficient confirmation will come when the pattern breaks below the reaction lows that marked the beginning of the bullish trend at the start of the pattern. Yet the scrip is showing weakness after giving bearish gap today on 30 mins. chart. The volume engulf at the end of downtrend will decide the velocity of breakdown to be measured..
Entering below 479.
Trade with caution :)
