Descending Triangle pattern formation on petronet. According to Descending Triangle will break only on one side which is on downside. It should not break on another side (upside) but if does, it will consider as False Breakout. In Descending or Ascending triangle, some of the times false breakout may happen so need to wait until the price to break.
Trade: Short below - 423.75 Target 1 - 414.75 Target 2 - 406.50 Stop Loss - 430.75
Note : Don't trade until the price to break the triangle.
Comment
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not yet trade active...
Trade closed manually
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price split happened so not having clear picture on chart. So, closing the chart.