PC Jeweller is facing resistance at higher levels & has formed a Symmetrical Triangle.
Usually Triangles react as a spring & break either support or resistance.
Here we are seeing a divergence in RSI & also a Gravestone Doji type formation with the last candle.
I expect a short term Bounce towards levels of 260/266 within the triangle.
Buy with a strict SL of 241.
Usually Triangles react as a spring & break either support or resistance.
Here we are seeing a divergence in RSI & also a Gravestone Doji type formation with the last candle.
I expect a short term Bounce towards levels of 260/266 within the triangle.
Buy with a strict SL of 241.
Comment:
Kindly Note that targets are 155 & 260. We could consider 266 if the triangle breaks on the upside. For the short term i expect the prices to test 155.
Comment:
Targets are 255 & 260. Typing error. Kindly ignore..