Following the technical pattern formed in last 1 month i tried to plot bearish butterfly pattern in short time frame.
The point D @ high 1467
length XA =86.65
with the help of Fibonacci ratio calculation the initial TARGET 1 and and the TARGET 2 is shown in the chart.
it will be interesting to see the price action in the zone target 1 ,if the stock does not find any support at this zone the price will move straight to TARGET 2
(everything is done on basis of mathematics)
The point D @ high 1467
length XA =86.65
with the help of Fibonacci ratio calculation the initial TARGET 1 and and the TARGET 2 is shown in the chart.
it will be interesting to see the price action in the zone target 1 ,if the stock does not find any support at this zone the price will move straight to TARGET 2
(everything is done on basis of mathematics)
Comment:
HEADING TOWARDS TARGET 2
Comment:
good technical performance( stock following the rule)
now target 2 low @1327
may be achieved in one to two weeks
now target 2 low @1327
may be achieved in one to two weeks
Comment:
target 2 achieved ,,, now what next?
bearish trend will continue or new trend will begin?
major supports are 1290,1260,1240
bearish trend will continue or new trend will begin?
major supports are 1290,1260,1240