1. See when structure changes from impulse wave to corrective then once trader and investor favourite is now creating fear among invested people. That is what I say time to time that stock market is language of switching sentiments on spur of moment. I made a red channel whose lower band is not confirmed till yet Though I treat as a channel. Because of this structure. Right now price is taking resistance of white line. This can go to red upper zone where you will find channel upper band as resistance.
2. I showed two circles one green showing a candle with lot of pressure from channel upper band. Then you can see price drifted to down side . This candle is activated when next day closing is below . You can see white circle where an pattern is made but not activated as next candle close is not above previous candle so it failed. And price moved down. The logic behind this explanation is to pull your attention towards message of down move which is still valid till price take out red zone . Price taken out and breach conditions are different my old followers know it very well . For new I attach the post so that this concept will be cleared. Since it is so lower time frame will be 4 hrs .
3. If red zone woks as resistance which i feel should work then you will see price coming to yellow . If this is taken out then you will see price coming to lower band of red channel and white zone of upper end.This would be trade for this scrip in coming days. My sentiments for long will switch only when price takes out red dotted line where I showed green arrow.
4. For traders they have to follow lower time frames charts and positional traders follow 4 hrs and daily . For investors they should wait to come to yellow zone half should be invested here rest in white .
5. Follow all conditions is must .This is no request one of my followers and dedicated to all traders and investors of this stock. Rest market will decide.
note. All trading and investment positions should be taken from the consultant of financial advisor .