What is a trendline A trendline is a straight line that connects two or more price points. Extending this line into the future, it also acts as a line of support or resistance. There are two types of trendlines—the up trend and the down trend.
Trendline Rule The general rule in technical analysis is that it takes two points to draw a trend line and the third point confirms the validity. Trendline can be a neckline / support line as explained in the Head & Shoulder pattern in current scenario.
Trading Strategy
Plan A Sell below 11930 with strict stops above 11975 for targets 11875-11890 Below 11875 – 11830-11845
Plan B Buy in the zone 11830-11845 with strict stops below 11800 for targets 11950-11975 Above 11975 – 12000-12050 Above 12050 – 12100-12125
Plan C Sell below 11775 with strict stops above 11815 for targets 11700-11625/11650 Below 11625 – 11500/11525