nimbuz90

Descending triangle spotted

Short
nimbuz90 Updated   
NSE:NIITTECH   None
The stock has formed a descending triangle inside a broad bull channel . Expecting a breakdown below 862 for the prices to reach the lower trending channel line. Hence we could short this for a target of 820.
Now coming to entry levels, 875 level can be used for shorting once it pulls back before break below 862.

Entry - Below 862 or at 875 area based on bearish signal confirmation
SL - 890
T1 - 850
T2 - 835
T3 - 820

For study purpose only.
Thanks.




Trade active: Got an early entry @ 878.50
Trade closed: stop reached
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