PVR technically seems to be in a bear grip. We could notice a descending triangle pattern and also a rising trendline is broken, both of which suggests short selling. We might see price pulling back to 1700 levels and then fall to 1550-60. 38% Fibonacci retracement of previous bull trend falls at 1550 which is around the same area.
Spot on right time. Good. Just one question if bear has gripped the market and the size of candle says the thrust on breakout. Is there any chance of pullback in such a strong down side push ?
AkhilSuryaFS
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@tradetechadvisors, As mentioned 1700 is the expected level of pull back. However, as we see currently, the stock got rejected around 1686. So pull back may have already completed.