PAYTM --DAILY CHART ---MAKE OR BREAK --FLAG PATTERN.
1. PAYTM seen triple bottom formation on Daily chart shown as circle 1,2,3 AT Strong support line around 625-630 level
2. Flag pattern seen on chart
3. previously trendline breakdown seen at 760-770 level and stock fall towards 625-630 , consecutive support form at 3 times at this level
4. Stock on daily chart trading at lower channel make or break level , if support hold at 625-630 on next daily candle stock can go upside to 680 level short term bullish where lower channel resistance seen
5. if stock fall bellow 620 daily on candle then will fall to 580 level lower channel support short term .
***THIS IDEA IS FOR EDUCATIONAL PURPOSE ... TRADE AT OWN RISK !
HAPPY TRADING. !
1. PAYTM seen triple bottom formation on Daily chart shown as circle 1,2,3 AT Strong support line around 625-630 level
2. Flag pattern seen on chart
3. previously trendline breakdown seen at 760-770 level and stock fall towards 625-630 , consecutive support form at 3 times at this level
4. Stock on daily chart trading at lower channel make or break level , if support hold at 625-630 on next daily candle stock can go upside to 680 level short term bullish where lower channel resistance seen
5. if stock fall bellow 620 daily on candle then will fall to 580 level lower channel support short term .
***THIS IDEA IS FOR EDUCATIONAL PURPOSE ... TRADE AT OWN RISK !
HAPPY TRADING. !
Comment:
As we seen PAYTM break the level 620 and fall to lower low of lower channel , STRONG BREAKDOWN of channel bellow 580 , stock have support at 530-550which is possibly take support , but lets see some sign of consolidation or pullback bwtween 530-550 on hourly chart .
Comment:
doji /or hammer candle should form at 15 min/ 1 Hour after back to back red candle on chart to see any sign of trend reversal or pullback between 530-550 levl .